Kerala Chief Minister V.D. Satheesan says Adani Ports cannot transfer its shares in the Vizhinjam International Seaport without prior approval from the state government. Speaking in the Kerala Assembly, he notes that media reports have brought the proposed stake transfer to the government’s attention, but the company has not approached the state for approval. Satheesan adds that, under the relevant agreement, share transfer requires state government consent, and in some cases central government approval may also be needed. He also says the government has not received any formal request for such approvals so far.
The proposed deal involves MSC acquiring a 49% stake in Adani Ports’ Vizhinjam venture—Vizhinjam port’s associated private limited entity—through APSEZ’s earlier announcement. Business outlets report the consideration is about $1.4 billion (around ₹13,220 crore), with MSC described as the buyer and Adani Ports as the seller. Across reports, the dispute centers on whether the companies have sought government clearances before proceeding with the share transfer, rather than on the commercial terms already announced.
