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Bond Market News
Adani Ports Acquires NQXT at $2.5bn Valuation
April 22, 2025
Adani Ports has announced the acquisition of the North Queensland Export Terminal (NQXT) in Australia at a valuation of $2.5bn from Abbot Point Port Holdings (APPH), a Singapore-based company. The purchase is part of the company’s strategy to strengthen its global port network and logistics position. The deal will be completed through a share swap with Carmichael Rail and Port Singapore Holdings Pte Ltd (CRPSHPL), an Adani Group affiliate, involving the issuance of 143.8mn new equity shares by Adani Ports, increasing the promoter group’s holding by 2.13%. The acquisition is subject to regulatory approvals, including from minority shareholders, the RBI, and Australia’s Foreign Investment Review Board. NQXT, located in the Port of Abbot Point, has a capacity of 50mn tonnes per annum and processed 35mn tonnes of cargo in FY2025, generating $222mn in revenue and $145mn in EBITDA. Adani Ports aims to earn $255mn in yearly operating profits from NQXT over the next four years and plans to manage $2.2bn in non-core assets and liabilities from APPH.
Adani Ports’ bonds traded stable with its 4.2% 2027s at 93.6, yielding 7.27%
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