Adani Ports Reacquires Australian Terminal in $2.4B Deal

Adani Ports & Special Economic Zone (APSEZ) has announced a non-cash reacquisition of the North Queensland Export Terminal (NQXT) in Australia from the Adani family, valuing the asset at approximately $2.4 billion. The deal involves issuing 143.8 million new equity shares to Carmichael Rail and Port Singapore Holdings Pte Ltd, increasing the Adani family's stake in APSEZ to 68.02%. APSEZ originally bought the terminal in 2011, sold it to the family in 2013, and now regains full ownership of the 50 MTPA deep-water coal export facility, which operates under a long-term lease from the Queensland Government. The company aims to raise NQXT's EBITDA from A$228 million to A$400 million within four years and integrate the asset into its strategy to handle one billion metric tons of cargo annually by 2030, with 15% from international operations. The transaction includes the assumption of non-core assets and liabilities but does not affect APSEZ's leverage. Completion is subject to shareholder and regulatory approvals.