Adani Ports and Special Economic Zone Limited (Adani Ports) was informed by Cyril Amarchand Mangaldas on the acquisition of a 49.38 percent interest in Indian Oiltanking Limited (IOTL) from Oiltanking India GmbH . The transaction was signed on November 09, 2022 .
Adani Ports and Special Economic Zone Limited (Adani Ports) was informed by Cyril Amarchand Mangaldas on the acquisition of a 49.38 percent interest in Indian Oiltanking Limited (IOTL) from Oiltanking India GmbH, as well as a ten percent interest in IOT Utkal Energy Services Limited from Oiltanking GmbH.Paridhi Adani, Partner; Mudit Shah, Partner; and Saurabh Sharma, Principal Associate; Akshay Zaveri, Associate; and Rishabh Manihar, Associate were among the transaction team members.Ernst & Young (acted as financial advisor for Oiltanking India GmbH) was among the other parties and advisors to the transaction.The transaction was signed on November 09, 2022.