Adani Ports to acquire NQXT Australia in share swap

Adani Ports and Special Economic Zone (APSEZ) announced plans to acquire Abbot Point Port Holdings Pte Ltd (APPH), owner of the North Queensland Export Terminal (NQXT), through a share swap deal, issuing 14.38 crore new equity shares to Carmichael Rail and Port Singapore Holdings Pte Ltd (CRPSHPL), resulting in a 2.13% increase in promoter group holding. Valued at A$3.975 Bn enterprise value, NQXT has a nameplate capacity of 50 MTPA and handled 35 MMT cargo in FY25 with A$349 Mn revenue and A$228 Mn EBITDA. The deal will increase international cargo to 15% of APSEZ's targeted 1,000 MMT by 2030, and the company expects NQXT's EBITDA to grow to A$400 Mn within four years. This acquisition is aligned with APSEZ's focus on high-quality assets and environmental standards. The acquisition is subject to regulatory and shareholder approvals.