Adani group acquires 100% stake in marine services company Ocean Sparkle

Adani Ports and Special Economic Zones Ltd. (“APSEZ”) through its subsidiary, Adani Harbor Services Ltd (“Tahsl”), has signed an agreement for the acquisition of 100% stake in Ocean Sparkle Ltd (‘OSL’), India is a leading marine service provider Third party. The main activities carried by the company include holdage, pilotage, and dredging.

With an asset base of 94 ships owned and 13 vessels belonging to third parties, OSL is a market leader. OSL is valued at the value of the company RS1,700 Crore with 300 free cash crores in the company. The company was founded in 1995 by a group of sea technocrats with Mr. P Jairaj Kumar as chairman and MD, which will continue as Chair of the OSL Board.

Given the synergy of OSL and Adani Port Services, the consolidated business tends to multiply in five years with an increase in margins, thus creating significant value for Apsez shareholders. “Word Karan Adani, CEO and director of all time, this apseisi.” This acquisition not only provides APSEZ significant share of the Indian marine service market but also gave us platforms to build attendance in other countries, thus facilitating APSEZ trips to become the largest port operator globally in 2030 and the largest integrated transportation utility in India, “OSL It has long been established relations with existing clients, with contracts starting from 5 to 20 years (the average contract length is ~ 7 years). Furthermore, contracts are carried out randomly or paying (topa), thus giving criticism of the OSL business model. The company has a presence in all major ports, 15 small ports and all LNG terminals in India.

Over the years, OSL has built and distributed a team of 1,800 personnel throughout India. The company has a significant experience in the improvement of global maritime through its operations in Oman, Saudi Arabia, Sri Lanka, Qatar, Yemen and Africa.