- A definitive agreement has been reached by Adani Ports and Special Economic Zone (APSEZ) to purchase Oiltanking India GmbH’s 49.38% equity holding in Indian Oiltanking Ltd. (IOTL).
- Additionally, the agreement calls for the purchase of a further 10% stock investment in IOT Utkal Energy Services Ltd. With this, APSEZ becomes India’s largest third-party liquid tank storage company, according to APSEZ CEO Karan Adani.
Adani Ports would pay 1,050 crore to acquire a 49.38% stake in Indian Oiltanking.
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