MUMBAI (NewsRise) -- Adani Group's latest acquisition of a large deep-water Indian port underscores the conglomerate's quest to dominate the infrastructure sector in Asia's third-largest economy.
On Friday, Adani Ports & Special Economic Zone said it would buy a 75% stake in Krishnapatnam Port for an enterprise value of 135.7 billion rupees ($1.9 billion) in an all-cash deal that would expand its pan-India market share to 27% from 22%. The deal is likely to be closed in 120 days.
