Adani Ports and Special Economic Zone (APSEZ), a company of the Adani Group, has acquired 80 percent stake in global offshore support vessel (OSV) operator Astro. Adani Ports has done this deal for US $ 185 million (about ₹ 1551 crores). Astro’s acquisition has been done at an enterprise value of US $ 235 million (about ₹ 1970 crores). The company says that this deal can prove to be value accretive from the first year itself.
Astro started in 2009 and is a leading global OSV operator in the Middle East, India, East Asia and Africa, the company said in its exchange filing. Astro has a fleet of 26 OSVs, including anchor handling tugs (AHT), flat top barges, multipurpose support vessels (MPSVs) and workboats, and offers vessel management and complimentary services.
Karan Adani, Managing Director, Adani Ports and SEZ Ltd, wrote on X, “This strategic deal will strengthen our global presence and highlight India’s growing role in the maritime industry. This deal is part of APSEZ’s roadmap to become one of the largest marine operators in the world.”
This strategic acquisition strengthens our global presence and highlights India’s growing role in the maritime industry. It is part of APSEZ’s roadmap for becoming one of the world’s largest marine operators. #PortsOfProsperity https://t.co/x7D45nIEg3
— Karan Adani (@AdaniKaran) August 30, 2024
Ashwani Gupta said, “Astro will add 26 OSVs to our existing fleet of 142 tugs and dredgers, taking the total to 168… This acquisition will give us access to an impressive list of Tier-1 customers, further strengthening our presence in the Arabian Gulf, Indian Subcontinent and East Asia…”
Astro has several major clients, including NMDC, McDermott, COOEC, Larsen & Toubro and Saipem. Astro is a major player in the offshore fabrication and construction and offshore transportation markets.
Astro has deep experience in building and maintaining offshore platforms, oil and gas fields and subsea facilities, enabling it to deliver cutting-edge services to customers in the offshore exploration and drilling markets.
(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)
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