Haifa Port Company
2023
Why
An APSEZ and Gadot consortium acquired 100% of Haifa Port Company, with APSEZ holding 70% of the consortium vehicle.
Adani Group
Diversified infrastructure portfolio: portsFounded 1988- HQ today: Ahmedabad, Gujarat, India
Reviewed by Swet Parvadiya
Company data updated: September 2026
Acquisitions
Adani Group Acquisitions
5
Major Deals Covered
$10.5B
Disclosed Deal Value
What are Adani Group's biggest acquisitions?
Adani Group's largest disclosed acquisition here is Ambuja Cements and ACC stakes from Holcim for $10.5B in 2022. This page covers 5 major deals from 2020 to 2023, each with its price where disclosed and the reason behind it.
- Major deals covered
- 5
- Largest deal
- Ambuja Cements and ACC stakes from Holcim ($10.5B)
- First deal
- 2020
- Most recent
- 2023
| Company | Year | Price | Purpose |
|---|---|---|---|
| Ambuja Cements and ACC stakes from Holcim | 2022 | $10.5B | The Adani family, through Endeavour Trade and Investment, acquired Holcim stakes and completed open offers to enter cement. The stated transaction value was about $10.5 billion. |
| Krishnapatnam Port Company | 2020 | Undisclosed | APSEZ acquired an initial 75% controlling stake at a stated enterprise value of ~$1.39 billion (₹12,000 crore), expanding its east-coast port network. |
| Gangavaram Port controlling stake | 2021 | Undisclosed | APSEZ agreed to buy 58.1% from the DVS Raju family for ~$418 million (₹3,604 crore) after separately agreeing to buy Warburg Pincus holdings. |
| Haifa Port Company | 2023 | Undisclosed | An APSEZ and Gadot consortium acquired 100% of Haifa Port Company, with APSEZ holding 70% of the consortium vehicle. |
| Karaikal Port Private Limited | 2023 | Undisclosed | APSEZ completed the NCLT-approved acquisition for ~$172 million (₹1,485 crore), adding a port in Puducherry. |
- What companies has Adani Group bought?
- Major acquisitions by Adani Group documented here include Ambuja Cements and ACC stakes from Holcim (2022), Haifa Port Company (2023), Karaikal Port Private Limited (2023), Gangavaram Port controlling stake (2021) and Krishnapatnam Port Company (2020).
- What is Adani Group's most recent acquisition?
- The most recent Adani Group acquisition documented here is Haifa Port Company, in 2023.
Karaikal Port Private Limited
2023
Why
APSEZ completed the NCLT-approved acquisition for ~$172 million (₹1,485 crore), adding a port in Puducherry.
Ambuja Cements and ACC stakes from Holcim
2022
$10.5B
Why
The Adani family, through Endeavour Trade and Investment, acquired Holcim stakes and completed open offers to enter cement. The stated transaction value was about $10.5 billion.
Gangavaram Port controlling stake
2021
Why
APSEZ agreed to buy 58.1% from the DVS Raju family for ~$418 million (₹3,604 crore) after separately agreeing to buy Warburg Pincus holdings.
Krishnapatnam Port Company
2020
Why
APSEZ acquired an initial 75% controlling stake at a stated enterprise value of ~$1.39 billion (₹12,000 crore), expanding its east-coast port network.
Adani Group's Growth & Acquisition Strategy
Current investment programs include renewable generation at Khavda, airport development, roads, data centers, copper and renewable-equipment manufacturing. These programs sit in specific portfolio companies. Adani Green Energy reported 2,250 MW operational at Khavda in July 2024 against a planned 30 GW development, so the full planned capacity should not be described as already operating.
How Adani Group Makes Money
Adani Group is a promoter portfolio rather than one publicly traded operating company. Cash flows arise inside separate businesses. APSEZ charges for port, terminal and logistics services; power companies earn from electricity generation, transmission and distribution; Adani Airport Holdings earns aeronautical and non-aeronautical revenue; Ambuja Cements and ACC sell building materials; and Adani Enterprises houses incubating and established operations. Investors must analyze each listed issuer separately because ownership, debt, revenue and minority interests differ across the portfolio.
Adani Group Acquisitions FAQ
Who acquired the Holcim cement stakes?
The Adani family used Endeavour Trade and Investment to acquire Holcim stakes in Ambuja Cements and ACC in 2022.
Who acquired Haifa Port?
A consortium of APSEZ and Gadot acquired Haifa Port Company, with APSEZ holding 70% of the consortium vehicle.
Were Karaikal and Gangavaram one acquisition?
No. APSEZ pursued them as separate transactions in different years and at separately disclosed rupee values.
What companies has Adani bought?
Adani has executed massive buyouts, including acquiring Ambuja Cements and ACC from Holcim, making it India's second-largest cement manufacturer overnight.
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