Gautam Adani to sell Australian Port Terminals to Adani Ports for $2.4 billion deal – Report

Adani Group Chairman Gautam Adani will transfer ownership of the Australian port terminal to the Adani Ports & Propacentes Production area in a $2.4 billion deal, a report said Thursday.

According to a report by Bloomberg, citing reports from people who know about the matter, the Adani port deal is at a time when India’s largest operator is seeking to expand its global footprint.

Adani Ports & Propenation Enage Ltd. will acquire North Queensland Export Terminal PTY Ltd. by issuing preferred shares to entities controlled by the Adani family, according to the Bloomberg Report.

(This is a developing story. Please check out the update)