Indian Oiltanking Signed Agreement With Adani Ports

On Wednesday, Adani Ports and the Special Economic Zone Ltd. (APSEZ) announced that it acquired a 49.38% stake in Indian Oiltanking for Rs 1,050 crore. 

APSEZ, a flagship transportation sector of the Adani group, is India’s largest private ports and logistics company. 

Under the agreement, Adani Ports will also obtain an additional 10% equity stake in IOT Utkal Energy Services Ltd., a 71.57% subsidiary of IOTL.

“With this acquisition, APSEZ’s oil storage capacity jumps 200 per cent, making it India’s largest third-party liquid storage company. This ties well with our ambition to become the largest transport utility globally,” said Mr Karan Adani, CEO and Director of APSEZ.

Speaking about India Oiltanking Ltd. (IOTL), the company has built a network of six terminals across five states to store crude and petroleum products. 

Adani Group had a few more acquisitions before Indian Oiltanking. Look at the significant investments by the Adani Group in the following section. 

List of major acquisitions by the Adani Group

Over the decades, the Adani Group has occupied a remarkable space in various industries, and the secret to this success is acquisitions. Adani Group is considered the most dominant player in the market, with more than 30 business acquisitions since 2014. Here are some of the key acquisitions by Adani Group in the past. 

  1. Ambuja Cement Ltd.
  2. SB Energy Holdings Ltd.
  3. DB Power Ltd.
  4. Kohinoor
  5. Airports
  6. Air Works
  7. SPPL and EREPL

With these major acquisitions, Gautam Adani, the founder of the Adani Group, has become the world’s third-richest person, following Elon Musk and Bernard Arnault & Family

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