Adani Ports and Special Economic Zone Ltd (APSEZ) has finalized a definitive agreement to purchase an 80% stake in Astro Offshore, a leading offshore support vessel (OSV) operator. The all-cash deal is valued at $185 million, implying an enterprise value of $235 million, with an EV/FY25E EBITDA of 4.4 times. This acquisition is expected to be value accretive from the first year. Astro’s fleet of 26 OSVs will enhance Adani Ports' fleet to 168 vessels, expanding its reach across the Arabian Gulf, Indian subcontinent, and Far East Asia