Adani group stocks: In a bid to deepen its global footprint, Adani Group company Adani Ports and Special Economic Zone (APSEZ) announced acquiring the North Queensland Export Terminal (NQXT) in Australia for $2.4 billion through a non-cash deal involving 14.35 crore new equity shares.

The Board of Directors of Adani Ports last week, on April 17, approved the acquisition of Abbot Point Port Holdings Pte Ltd (APPH), from Carmichael Rail and Port Singapore Holdings Pte Ltd (CRPSHPL), which is a related party to Adani Ports. Abbot Point Port Holdings holds the entities which own and operate the North Queensland Export Terminal.

Adani Ports-NQXT Terminal merger: Why is it important?

More than just a transaction, merger supports Adani Ports’ long-term vision of building a strategically connected port network along vital Indian trade corridors, especially across the Asia-Pacific region, an Adani Group spokesperson told Mint.