DSK Legal advised and assisted Terminal Investment Limited (“TiL”), the container terminal operating and investing arm of Mediterranean Shipping Company (“MSC”), world’s largest transport and logistics conglomerate, in connection with its partnership with Adani Ports and Special Economic Zone Limited, pursuant to which TiL will invest for 49% stake in Adani Vizhinjam Port Private Limited (“AVPPL”), the concessionaire for Vizhinjam Port (“Transaction”). The Transaction is subject to customary approvals, including regulatory ones.

APSEZ is India’s largest and one of the world’s fastest growing Integrated Transport Operator, and TiL is one of the world’s largest container terminal operators and part of the MSC Group. Commissioned in December 2024, Vizhinjam port is India’s first deep-draft mega transshipment port with 1.6 million TEU capacity. The port is undergoing expansion that will increase capacity 3.5x to 5.7 million TEUs by December 2028.

TiL has agreed to invest USD 1.397 billion, equivalent to its proportionate 49% share of USD 2.85 billion. The total consideration will be paid in two tranches: USD 539 million for the 49% stake in AVPPL and USD 858 million upon completion of the Vizhinjam port’s expansion by December 2028.This Transaction is the single largest foreign private investment in Indian port infrastructure and is the third major collaboration between APSEZ and MSC, following successful joint ventures at the Mundra port (Container Terminal No. 3) and Ennore.

DSK Legal assisted TiL in inter alia: (i) advising on the overall transaction structure; (ii) conducting legal due diligence on AVPPL; (iii) drafting/reviewing, negotiating and finalizing the Transaction documents including share purchase and subscription agreement, shareholders’ agreement and other ancillary agreements; and (iv) merger control analysis and advisory.

Deal Value: USD 2.85 billion

The team at DSK Legal representing TiL comprised of:

Transaction Team: Mr. Anjan Dasgupta (Partner), Mr. Harvinder Singh (Partner), Mr. Manhar Gulani (Principal Associate) and Ms. Devika Rana (Principal Associate).

Projects Team: Mr. Anjan Dasgupta (Partner), Mr. Avinash Kumar Khard (Partner) and Mr. Abhikalpa Ghosh (Senior Associate).

Legal Due Diligence Team: Mr. Harvinder Singh (Partner), Mr. Avinash Kumar Khard (Partner), Ms. Roochi Loona (Partner), Ms. Shruti Dogra (Partner), Mr. Manhar Gulani (Principal Associate), Ms. Mala Mehto (Principal Associate), Ms. Devika Rana (Principal Associate), Mr. Abhikalpa Ghosh (Senior Associate), Ms. Diksha Mazumdar (Senior Associate), Mr. Brijesh Ranjan Sahoo (Associate), Ms. Sumedha Tewari (Associate), Mr. Sameksh Shetty (Associate), Ms. Shreya Khandelwal (Associate), Ms. Mihika Mukherjee (Associate) and Ms. Ishita Khosla (Associate).

Competition Law Team: Mr. Abhishek Singh Baghel (Partner), Mr. Shivam Sharma (Senior Associate), Mr. Devraj Sood (Senior Associate) and Ms. Vanshika Rana (Associate).

Mr. Anjan Dasgupta acted as the relationship partner.

Press Links:

  1. Adani: APSEZ and MSC Group deepen long-term partnership; MSC’s terminal arm, TiL, to invest in 49% share in Vizhinjam port in total deal value of USD 2.85bn
  2. Scan X: Adani Ports Expands MSC Partnership; TiL to Acquire 49% Vizhinjam Stake in $2.85bn Deal
  4. Business Standard: Adani Ports TiL Stake Deal: TiL to invest $1.4 billion for 49% stake in Adani’s Vizhinjam port | Company News – Business Standard

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