Adani Ports and Special Economic Zone Limited (APSEZ) has formally entered the South American maritime sector by acquiring a controlling 51% stake in Argentina-based Meridian Transportes Marítimos S.A., a move valued at USD 444.49. This strategic expansion strengthens APSEZ’s global logistics footprint and nautical services, with the deal expected to close within four months.
Adani Harbour International FZCO (TAHID), a step-down subsidiary of APSEZ, signed the Share Purchase Agreement on 15 May 2026 to acquire 510,000 Class A ordinary shares of Meridian Transportes Marítimos S.A. from Logística y Servicios Marítimos S.A. and Simpo S.A. The acquisition is structured as a cash transaction and does not require regulatory approvals, ensuring a smooth completion process. On the BSE, APSEZ shares responded positively, closing at ₹1,795.70, up 1.27%.
Meridian Transportes Marítimos S.A., incorporated in September 2023 and registered in Buenos Aires in October 2023, operates in maritime transport and nautical services. The company holds a significant 10-year contract with Southern Energy S.A., signed in December 2025, for the supply of six vessels.
This contract provides a stable revenue stream and underpins the strategic rationale for APSEZ’s investment. Financially, Meridian has shown resilience, reporting a net profit of approximately USD 1,499 in FY2025 after recording net losses of USD 698 in FY2023 and USD 848 in FY2024.
The acquisition also involves a secondary arrangement 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. This structure optimises asset management and strengthens collaborative ties with local stakeholders. The deal is not classified as a related party transaction, further simplifying its execution.
Strategically, this acquisition marks APSEZ’s formal entry into South America, a region with growing demand for integrated maritime logistics. By leveraging Meridian’s existing contracts and operational base, APSEZ aims to expand its nautical services and enhance its international port operations.
This move complements APSEZ’s broader ambition to build one of the world’s largest integrated marine platforms, following recent expansions into offshore and subsea operations through its Astro Offshore division.
Astro Offshore has already contracted with Oceaneering International Inc to pursue specialised subsea opportunities in Europe, including cable laying, pipeline installation, and underwater construction. The addition of modern deep water support vessels such as the Energy Savannah (to be renamed Astro Atlas) highlights APSEZ’s commitment to strengthening its fleet and operational capabilities.
The Argentina acquisition aligns with this trajectory, positioning APSEZ as a global leader in maritime infrastructure and logistics.
The transaction timeline anticipates completion within four months, after which APSEZ will consolidate its controlling majority stake and begin joint operations with Meridian. This expansion is expected to significantly boost APSEZ’s international presence, diversify its revenue streams, and reinforce its role in global maritime trade.
Agencies
