The Kerala government has started examining the Adani Group’s proposal to sell a 49% stake in Adani Vizhinjam Port Private Limited (AVPPL), the company that operates the Vizhinjam International Seaport.
The proposal follows an announcement by Adani Ports and Special Economic Zone (APSEZ) that the Mediterranean Shipping Company (MSC) Group, based in Switzerland, plans to acquire the 49% stake in AVPPL.
The proposed deal has triggered political discussion in Kerala. Chief Minister V.D. Satheesan said the Adani Group had not officially informed the State government about the decision. He also stated that the government’s approval is required before any transfer of shares can take place.
The Kerala government is now reviewing the proposal and the legal and contractual conditions before taking a decision.
More details are expected after the government’s examination is completed.