{"id":945,"date":"2023-05-06T10:17:53","date_gmt":"2023-05-06T02:17:53","guid":{"rendered":"http:\/\/www.hajomech.com\/adani-settles-myanmar-port-30-million-sale\/"},"modified":"2023-05-06T10:17:53","modified_gmt":"2023-05-06T02:17:53","slug":"adani-settles-myanmar-port-30-million-sale","status":"publish","type":"post","link":"http:\/\/www.hajomech.com\/adani-settles-myanmar-port-30-million-sale\/","title":{"rendered":"Adani settles Myanmar Port $30 million sale"},"content":{"rendered":"
\n

Adani Ports and Special Economic Zone Ltd (APSEZ) has completed the <\/p>\n

sale of its port in Myanmar for $30 million.<\/strong><\/p>\n

\"Adani<\/p>\n

The sale was originally announced in May 2022 when APSEZ signed a Share <\/p>\n

Purchase Agreement (SPA) with certain Condition Precedents (CPs) for the sale of <\/p>\n

its Myanmar Port.<\/p>\n

<\/p>\n

However, the approval process faced delays, and certain CPs were difficult <\/p>\n

to meet, prompting APSEZ to obtain an independent valuation on an \u201cas is where <\/p>\n

is\u201d basis.<\/p>\n

<\/p>\n

Consequently, the sale consideration was renegotiated to $30 million.<\/p>\n

<\/p>\n

According to Adani\u2019s recent statement, the buyer will pay the agreed within <\/p>\n

3 business days on completing all necessary compliance, and APSEZ will transfer <\/p>\n

the equity to the buyer, concluding its exit from the Myanmar Port.<\/p>\n

<\/p>\n

\u201cThis exit is in line with the guidance provided by the APSEZ Board based <\/p>\n

on the recommendations made by the Risk Committee in October 2021,\u201d commented <\/p>\n

APSEZ\u2019s CEO and Whole-time Director, Karan Adani.<\/p>\n

<\/p>\n

The Myanmar Port is located at Yangon and was operated by APSEZ\u2019s <\/p>\n

subsidiary, Adani Yangon International Terminal Company Limited. The port has a <\/p>\n

capacity of handling 800,000 TEU and 3.5 million metric tonnes of bulk cargo per <\/p>\n

annum.<\/p>\n

<\/p>\n

APSEZ handled 8.6 million TEU from April 2022 to March 2023, reflecting a 5 <\/p>\n

per cent year-on-year increase.<\/p>\n

<\/p>\n

Approximately 6.6 million TEU were handled at Mundra Port alone.<\/p>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"

Adani Ports and Special Economic Zone Ltd (APSEZ) has completed the sale of its port in Myanmar for $30 million.The sale was originally announced in May 2022 when APSEZ signed a Share Purchase Agreement (SPA) with certain Condition Precedents (CPs) for the sale of its Myanmar Port.However, the ap…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"hj_lang":[3],"class_list":["post-945","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"http:\/\/www.hajomech.com\/wp-json\/wp\/v2\/posts\/945","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.hajomech.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.hajomech.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.hajomech.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.hajomech.com\/wp-json\/wp\/v2\/comments?post=945"}],"version-history":[{"count":0,"href":"http:\/\/www.hajomech.com\/wp-json\/wp\/v2\/posts\/945\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.hajomech.com\/wp-json\/wp\/v2\/media?parent=945"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.hajomech.com\/wp-json\/wp\/v2\/categories?post=945"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.hajomech.com\/wp-json\/wp\/v2\/tags?post=945"},{"taxonomy":"hj_lang","embeddable":true,"href":"http:\/\/www.hajomech.com\/wp-json\/wp\/v2\/hj_lang?post=945"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}