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Adani Ports Completes Sale Of Myanmar Port For _____ Million.
A)
$25 Million
B)
$30 Million
C)
$50 Million
D)
$75 Million

Correct Answer :   $30 Million


A flagship Adani group firm, the Adani Ports and Special Economic Zone Ltd (APSEZ) has reportedly concluded the Myanmar Port sale for a cumulative consideration of about $30 million.

The Adani group declared the Myanmar port sale in one of its latest exchange communications on Thursday (4th May 2023). Following the announcement of this stock market news, Adani Ports’ share price gained some momentum from early morning losses and soon turned green, adding 1.50% from the intraday low.

Details on the sales deal of the Myanmar port : Given the continuous delay in the approval procedure and challenges in meeting CPs, the APSEZ has managed to obtain an independent valuation on an “as is, where is” model. Thereby, the seller and buyer have renegotiated the sale consideration to about $30 million. The buyer is going to pay the mentioned amount to the seller within three business days of executing necessary compliance checks by the seller. On receipt of the transaction value, APSEZ is going to transfer the equity to the buyer, and the exit shall stand concluded..

Source : Marine Insight

Published On : May 6, 2023
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