Adani Ports acquires 80% stake in Astro Offshore for $185 million

Adani Ports and Special Economic Zone (APSEZ) entered into a definitive agreement to acquire an 80 per cent stake in Astro Offshore, an offshore supply vessel firm, in an all-cash deal worth $185 million (around Rs 1,551 crore).

There are no regulatory approvals required, and the transaction is expected to close within a month, subject to fulfilment of operational conditions precedent.

According to a statement issued by APSEZ, the deal will imply an EV (enterprise valuation) of $235 million and EV/FY25E Ebitda at 4.4 times. The transaction is expected to be value-accretive from the first year itself.