Adani Ports completes acquisition of 49.38% stake in Indian Oiltanking

Adani Ports and Special Economic Zone has successfully concluded the acquisition of Oiltanking India GmbH's 49.38% equity stake in Indian Oiltanking (IOTL), which is one of India's largest developer and operator of liquid storage facilities. Acquisition of an additional 10% equity stake in IOT Utkal Energy Services, a 71.57% subsidiary of IOTL is also concluded. Oiltanking India GmbH is wholly owned subsidiary of Oiltanking GmbH.

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