Adani Ports and Special Economic Zone arm to acquire 51% stake in Meridian Transportes Marítimos

Adani Ports and Special Economic Zone Ltd

(APSEZ) on May 15, 2026 said its step-down subsidiary, The Adani Harbour International FZCO (TAHID), has entered into a share purchase agreement to acquire a 51% stake in Meridian Transportes Marítimos S.A. from Logística y Servicios Marítimos S.A. and Simpo S.A.

The acquisition is aimed at strengthening APSEZ’s maritime footprint in South America, particularly Argentina, by establishing a joint venture focused on nautical services. The target company operates in maritime transport and nautical services and holds a contract with Southern Energy S.A. for the supply of six vessels over a 10-year period.

Meridian Transportes Marítimos S.A., incorporated in September 2023 and registered in Buenos Aires in October 2023, has reported a net profit of approximately USD 1,499 in FY2025, following net losses of about USD 698 in FY2023 and USD 848 in FY2024.

The transaction, structured as a cash deal, involves the acquisition of 51% of the share capital, comprising 510,000 Class A ordinary shares. The cost of acquisition is USD 444.49.

As part of the broader arrangement, TAHID and Logística y Servicios Marítimos S.A. will also enter into a definitive agreement under which TAHID will divest a 20% stake in a UAE-incorporated entity that will own vessels, to an affiliate of the Argentine maritime group.

The acquisition is not classified as a related party transaction, and no regulatory approvals are required. The company expects the deal to be completed within four months.

On the BSE, APSEZ shares closed at ₹1,795.70, up ₹22.50 or 1.27% on Friday.