TiL’s Strategic Stake in Adani Vizhinjam Port
Terminal Investment Limited (TiL) has reached an agreement to invest $1.397 billion to acquire a 49% stake in Adani Vizhinjam Port Private Limited. This major stake will be acquired from Adani Ports and SEZ Limited, the concessionaire responsible for Vizhinjam Port.
Investment Details
The investment agreement outlines a two-tranche payment structure. Initially, $539 million will be allocated for the 49% equity stake in Adani Vizhinjam Port. Subsequently, an additional payment of $858 million is contingent upon the successful completion of the port’s expansion, expected by December 2028.
Role of DSK Legal
DSK Legal has been instrumental in advising TiL on this substantial transaction. Their responsibilities encompassed structuring the deal, conducting comprehensive legal due diligence on Adani Vizhinjam Port, and handling the drafting, review, negotiation, and finalization of essential transaction documents, including the share purchase and subscription agreement, shareholders’ agreement, and other related agreements. The firm also provided merger control analysis and advisory services.
Team Leadership at DSK Legal
The transaction was led by Anjan Dasgupta (Partner) and Harvinder Singh (Partner), with the support of Manhar Gulani (Principal Associate) and Devika Rana (Principal Associate). Additional support was provided by the Projects Team, Legal Due Diligence Team, and Competition Law Team, comprising various partners, associates, and senior associates.
Cyril Amarchand Mangaldas’ Involvement
Cyril Amarchand Mangaldas provided legal counsel to Adani Ports for this transaction. The completion of the transaction is subject to customary regulatory and other necessary approvals.
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About the Companies
TiL, a significant player in the global container terminal operations sector, is affiliated with the Mediterranean Shipping Company. Adani Ports and SEZ, on the other hand, is India’s largest integrated transport operator and one of the fastest-growing globally. Vizhinjam Port, commissioned in December 2024, stands as India’s first deep-draft mega transshipment port, with a current capacity of 1.6 million TEUs. The ongoing expansion aims to triple this capacity to 5.7 million TEUs by December 2028.
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