According to reports from CNBC TV18, Adani Ports and Special Economic Zone Ltd (APSEZ) announced on May 15, 2026, that its step-down subsidiary, The Adani Harbour International FZCO (TAHID), has entered into a share purchase agreement to acquire a 51% stake in Meridian Transportes Marítimos S.A. from Logística y Servicios Marítimos S.A. and Simpo S.A. The transaction, structured as a cash deal, involves the acquisition of 510,000 Class A ordinary shares at a cost of USD 444.49. The acquisition is aimed at strengthening APSEZ's maritime footprint in South America, particularly Argentina, by establishing a joint venture focused on nautical services. The low acquisition cost of $444.49 highlights that the deal's main value comes from Meridian's secured long-term contract, which forms the foundation for future work in Argentina's maritime sector.
As reported by CNBC TV18, the target company, Meridian Transportes Marítimos S.A., incorporated in September 2023 and registered in Buenos Aires in October 2023, operates in maritime transport and nautical services and holds a contract with Southern Energy S.A. for the supply of six vessels over a 10-year period. The company has shown improving financial performance, reporting a net profit of approximately USD 1,499 in FY2025, following net losses of about USD 698 in FY2023 and USD 848 in FY2024. This secured long-term contract with Southern Energy S.A. provides a stable revenue stream and supports APSEZ's expansion into Argentina's maritime transport sector, which is vital for the nation's exports and expected to grow with major energy projects like Southern Energy's LNG initiative. The contract was executed in late December 2025, providing immediate operational value to the joint venture.
According to the report, as part of the broader arrangement, TAHID and Logística y Servicios Marítimos S.A. will enter into a definitive agreement under which TAHID will divest a 20% stake in a UAE-incorporated entity that will own vessels, to an affiliate of the Argentine maritime group. The acquisition is not classified as a related party transaction, and no regulatory approvals are required. The company expects the deal to be completed within four months. This move strategically places APSEZ within Argentina's essential maritime transport sector, where the company faces regional competition from established players like SAAM, but this acquisition provides an immediate operational base for expansion. The secondary arrangement involves selling a 20% stake in a forthcoming UAE-based entity dedicated to vessel ownership, further optimizing the logistics and asset management structure.
As reported by CNBC TV18, on the BSE, APSEZ shares closed at ₹1,795.70, up ₹22.50 or 1.27% on Friday following the announcement. The positive market reaction reflects investor confidence in the strategic expansion into the Argentine maritime services market through this joint venture structure. As of May 15, 2026, APSEZ had a market capitalization of approximately ₹4,13,583.70 crore, trading at a TTM P/E ratio of 32.30x. The stock closed at ₹1,795.70 on May 15, 2026, near all-time highs and showing strong past returns over one, three, and five years. Analyst sentiment remains largely positive, with 'BUY' ratings and price targets suggesting potential upside, indicating investor confidence in APSEZ's growth and strategy.
