{"id":3748,"date":"2024-08-30T15:50:06","date_gmt":"2024-08-30T10:20:06","guid":{"rendered":"https:\/\/lakshmishree.com\/news\/?p=3748"},"modified":"2024-08-30T15:50:08","modified_gmt":"2024-08-30T10:20:08","slug":"adani-ports-acquires-80-stake-in-global-osv-operator-astro-offshore-for-185-million","status":"publish","type":"post","link":"https:\/\/lakshmishree.com\/news\/adani-ports-acquires-80-stake-in-global-osv-operator-astro-offshore-for-185-million\/","title":{"rendered":"Adani Ports Acquires 80% Stake in Global OSV Operator Astro Offshore for $185 Million"},"content":{"rendered":"\n<p>Adani Ports and Special Economic Zone Ltd (APSEZ) has announced its acquisition of an 80% stake in Astro Offshore, a global offshore service vehicle (OSV) operator. The deal, valued at $185 million, is an all-cash transaction that gives Astro an enterprise value (EV) of $235 million, with an EV\/FY25E EBITDA multiple of 4.4x, according to a company press release. This acquisition is expected to be value accretive from the first year.<\/p>\n\n\n\n<p>Astro Offshore operates across the Middle East, India, Far East Asia, and Africa, boasting a fleet of 26 OSVs, including anchor handling tugs (AHTs), flat top barges, multipurpose support vessels (MPSVs), and workboats. The company also provides vessel management and complementary services.<\/p>\n\n\n\n<p>Mr. Ashwani Gupta, CEO of APSEZ, underlined the fact that this acquisition constitutes a critical milestone in APSEZ&#8217;s quest to be among the world&#8217;s largest marine operators. The addition of Astro&#8217;s fleet would bring the total number of vessels to 168, further expanding APSEZ&#8217;s reach and breadth across the Arabian Gulf, Indian subcontinent, and Far East Asia. Astro&#8217;s marquee Tier-1 customers include NMDC, McDermott, COOEC, Larsen &amp; Toubro, and Saipem.<\/p>\n\n\n\n<p>Mark Humphreys, Managing Director of Astro Offshore, said on the partnership with APSEZ, &#8220;This partnership provides an exciting opportunity for accelerated growth, fleet diversification, and expanded geographical footprint.&#8221; Astro recorded revenue of $95 million and EBITDA of $41 million for the year ended April 2024.<\/p>\n\n\n\n<p>The announcement saw shares of APSEZ inch up to trade at Rs 1,484.05 per share, up 0.56% at 3:19 PM.<\/p>\n\n\n\n<p><em>Do&nbsp;you have a news tip for Lakshmishree reporters? Please email us at&nbsp;<\/em>media@lakshmishree.com<\/p>\n\n\n\n<p><sub><sup>Source:\u00a0<a href=\"https:\/\/www.moneycontrol.com\/news\/business\/adani-ports-acquires-80-stake-in-global-osv-operator-astro-offshore-for-185-mn-12810808.html\" target=\"_blank\" data-type=\"link\" data-id=\"https:\/\/www.moneycontrol.com\/news\/business\/adani-ports-acquires-80-stake-in-global-osv-operator-astro-offshore-for-185-mn-12810808.html\" rel=\"noreferrer noopener\">Moneycontrol<\/a><\/sup><\/sub><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Adani Ports and Special Economic Zone Ltd (APSEZ) has announced its acquisition of an 80% stake in Astro Offshore, a global offshore service vehicle (OSV) operator. The deal, valued at $185 million, is an all-cash transaction that gives Astro an enterprise value (EV) of $235 million, with an EV\/FY25E EBITDA multiple of 4.4x, according to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3749,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[50],"tags":[313],"class_list":["post-3748","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-indian-market","tag-adani-port-astro-offshore"],"_links":{"self":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/3748","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/comments?post=3748"}],"version-history":[{"count":1,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/3748\/revisions"}],"predecessor-version":[{"id":3750,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/3748\/revisions\/3750"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media\/3749"}],"wp:attachment":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media?parent=3748"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/categories?post=3748"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/tags?post=3748"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}