Adani Ports and Special Economic Zone Ltd (APSEZ) has announced that its step-down subsidiary, The Adani Harbour International FZCO (TAHID), will acquire a 51% stake in Argentina-based Meridian Transportes Marítimos S.A. as part of its strategy to strengthen its maritime presence in South America.
The acquisition, disclosed on May 15, 2026, is being executed through a share purchase agreement signed with Logística y Servicios Marítimos S.A. and Simpo S.A. The deal is aimed at establishing a joint venture focused on nautical services in Argentina.
Meridian Transportes Marítimos S.A., incorporated in September 2023 and registered in Buenos Aires the following month, operates in maritime transport and nautical services. The company currently holds a long-term contract with Southern Energy S.A. for the supply of six vessels over a 10-year period.
Under the transaction, TAHID will acquire 510,000 Class A ordinary shares representing 51% of the company’s share capital through a cash consideration of USD 444.49.
Financially, Meridian reported a net profit of approximately USD 1,499 in FY2025 after recording net losses of around USD 698 in FY2023 and USD 848 in FY2024.
As part of the broader arrangement, TAHID and Logística y Servicios Marítimos S.A. will also enter into a definitive agreement under which TAHID will divest a 20% stake in a UAE-incorporated vessel-owning entity to an affiliate of the Argentine maritime group.
APSEZ clarified that the transaction does not qualify as a related party transaction and does not require regulatory approvals. The acquisition is expected to be completed within four months.