Global logistics major CEVA to buy Warburg’s over 90% stake in Stellar Value Chain

Global logistics and supply chain major CEVA Logistics has entered into an agreement with an affiliate of private equity firm Warburg Pincus and other entities to acquire controlling stake in tech-driven third-party warehouse and distribution service provider Stellar Value Chain Solutions.

The Centre is preparing a ₹12,000-crore inland waterway on the Brahmani river in Odisha to move goods from four industrial clusters to ports of Paradip and Dhamra. Under the proposed plan, the infrastructure component will be done by the government on an engineering, procurement and construction (EPC) model.

The investment comes after Deloitte quit as auditor for Adani Ports, in the first such move after U.S. short-seller Hindenburg Research’s critical report on the Adani group that was published in January.

At the 19th Maritime States Development Council meeting in Kevadia, Sonowal unveiled a vision for India’s maritime sector, outlining key initiatives that promise a transformative impact.

The Union Minister of Ports, Shipping & Waterways, Sarbananda Sonowal attended the road show organised by Syama Prasad Mookerjee Port (SMPK) for the ensuing Global Maritime India Summit, 2023 (GMIS). The active participation of trade and industries in the development of port infrastructure and other facilities is imperative for the development of India as an […]

Professional services firm, MSKA Associates, will take over as the statutory auditor of Adani Ports & SEZ (APSEZ) following Deloitte’s resignation, which was prompted by differences over several transactions with APSEZ management. MSKA & Associates has been hired until the next APSEZ annual general meeting, to be held in 2024. The resignation of Deloitte increases […]

Deloitte Haskins & Sells LLP has communicated to Adani Ports & Special Economic Zone Ltd. its resignation plans and a formal announcement is expected in coming days, one of the people said, asking not to be identified discussing a sensitive matter.

Adani Ports and Special Economic Zones (APSEZ) CEO Karan Adani announced that the Adani group will expand the captive port capacity of Sanghipuram, following the acquisition by Adani Group firm Ambuja Cements of a majority stake in Sanghi Industries Ltd (SIL) for an enterprise value of Rs 50bn. Ambuja Cements will acquire a 56.74% stake […]

On-demand logistics firm Porter has restructured its key leadership as it embarks on the next phase of growth, appointing co-founder Uttam Digga as CEO, Pranav Goel as executive vice chairman and Shruti Ranjan Satpathy as chief product and technology officer. One of India’s leading logistics firms, Porter will continue to deliver reliable and cost-effective, tech-enabled […]

The ship management sector in India is poised for a compounded annual growth rate of over six per cent in the next few years, an official of the Hong Kong-headquartered Anglo-Eastern Group said. The growth of the sector would boost employment opportunities for Indian seafarers, its CEO Captain Bjorn Hojgaard said.