Adani Ports and Special Economic Zone Ltd. (APSEZ) is acquiring an 80% stake in Singapore-headquartered Astro Offshore for $185 million in cash, valuing the company at $235 million. Astro, which owns a fleet of 26 offshore support vessels, generated $95 million in revenue and $41 million in EBITDA for the fiscal year ending April 30, 2024. This acquisition, expected to be value accretive from the first year, will expand APSEZ's fleet to 168 vessels and enhance its customer base, including Tier-1 clients like NMDC and Larsen & Toubro. The deal aligns with APSEZ's strategy to become a leading global marine operator with a significant presence in the Middle East, India, Far East Asia, and Africa. CEO Ashwani Gupta emphasized the strategic importance of this acquisition in growing their market footprint and diversifying beyond port operations.