Indian billionaire Gautam Adani will transfer ownership of an Australian port terminal to Adani Ports & Special Economic Zone in a deal worth about $2.4 billion as the India’s largest private port operator aims to grow its global presence, media reported on Thursday.
Adani Ports will issue preferential shares to an entity controlled by the Adani family to buy the North Queensland Export Terminal, the report said, citing people with knowledge of the matter.
North Queensland Export Terminal, which is a deep-water coal export terminal, was purchased by Adani Ports in 2011 before it was sold to the family in 2013 in a $2 billion deal, according to the report.