Millennium Post

Group recasts biz to consolidate ports, power, mining

In a major recast of operations, diversified Adani group on Friday consolidated its ports, power and mining assets into three separately listed firms and would list a new company for transmission business, while unlocking value worth over Rs 60,000 crore for the shareholders.

Under the multi-layered corporate restructuring scheme, approved by the boards of three listed firms, the group would move away from its present 'holding company' structure and would instead have four independently listed entities for the four major business segments. The existing shareholders of Adani Enterprises Ltd (AEL), currently the holding company, would be allotted shares of two already listed firms -- Adani Ports and SEZ Ltd (APSEZ) and Adani Power Ltd (APL) -- as also in a new company named Adani Transmission Ltd (ATL) to be listed separately.
PTI

PTI

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