Adani buys Australian port operator from Glencore

MUMBAI: A unit of Adani Enterprises will buy the company that operates Australia’s Abbot Point Coal Terminal from Glencore Plc for A$19.25 million dollars ($14.52

MUMBAI: A unit of Adani Enterprises will buy the company that operates Australia’s Abbot Point Coal Terminal from Glencore Plc for A$19.25 million dollars ($14.52 million), ending a legal wrangle over control of the port. Adani acquired the Abbot Point Coal Terminal port from the Queensland government in 2011, but Glencore, which owned Abbot Point BulkCoal, retained control of operations, sparking a legal dispute. Now full control of the port will pass to Adani.

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