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THE Adani organisation feels confident it can swallow state-owned container rail operator Container Corp of India (Concor) with little disturbance to its corporate structure and financial health, reports Bloomberg.
Adani Ports & Special Economic Zone expects to easily raise funds to acquire Concor, in which the government is looking to divest its shareholding.
"Concor is a very strategic acquisition," said Adani CEO Karan Adani. By raising funds "without stretching the balance sheet, we should easily be able to do that acquisition," he said.
The transaction underscores the rapid expansion spree that the Adani Group has seen in recent years as billionaire-founder Gautam Adani - Karan Adani's father - rapidly diversifies what was once an agri-trading business into a conglomerate spanning ports, power generation, airports, data centres and green energy.
Adani Ports, which is India's largest private port operator, has synergies with Concor as the latter owns inland ports across the country in addition to providing rail transport for containers that are critical for port operations.
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