<h4 data-path-to-node="3" style="font-family: &quot;Google Sans&quot;, sans-serif !important; line-height: 1.15 !important;"><b data-path-to-node="3" data-index-in-node="0" style="font-family: &quot;Google Sans Text&quot;, sans-serif !important; line-height: 1.15 !important;">Landmark $10 Billion Cross-Border Infrastructure Deal Evaluated</b></h4><p data-path-to-node="4" id="p-rc_0f453db29ccd1625-333" style="font-family: &quot;Google Sans Text&quot;, sans-serif !important; line-height: 1.15 !important;"><span class="citation-514" style="line-height: 1.15 !important;"><b>LONDON / AHMEDABAD</b> — In what could mark one of the largest overseas infrastructure acquisitions by an Indian conglomerate, billionaire Gautam Adani-led </span><b data-path-to-node="4" data-index-in-node="152" style="line-height: 1.15 !important;">Adani Ports and Special Economic Zone Ltd (APSEZ)</b><span class="citation-514" style="line-height: 1.15 !important;"> is evaluating a potential bid to acquire a controlling stake in </span><b data-path-to-node="4" data-index-in-node="266" style="line-height: 1.15 !important;">Associated British Ports (ABP)</b><span class="citation-514 citation-end-514" style="line-height: 1.15 !important;">, the United Kingdom's largest commercial port operator.<source-footnote ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c2021020037="" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c2021020037="" class="superscript" data-turn-source-index="2" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote></span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c1531356876="" style="line-height: 1.15 !important;"> <source-inline-chip _ngcontent-ng-c1531356876="" _nghost-ng-c815920949="" class="ng-star-inserted" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----></source-inline-chip><!----><!----><!----></sources-carousel-inline></p><p data-path-to-node="5" id="p-rc_0f453db29ccd1625-334" style="font-family: &quot;Google Sans Text&quot;, sans-serif !important; line-height: 1.15 !important;"><span class="citation-513" style="line-height: 1.15 !important;">Industry sources and financial advisories familiar with the matter indicate that the proposed cross-border transaction values the UK maritime infrastructure giant at </span><b data-path-to-node="5" data-index-in-node="166" style="line-height: 1.15 !important;">more than £10 billion ($12.8 billion)</b><span class="citation-513 citation-end-513" style="line-height: 1.15 !important;">.<source-footnote ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c2021020037="" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c2021020037="" class="superscript" data-turn-source-index="3" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote></span> <span class="citation-512 citation-end-512" style="line-height: 1.15 !important;">If finalized, the acquisition would represent Adani’s largest international buyout to date, establishing a pivotal operational anchor inside Western Europe’s supply chain grid.<source-footnote ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c2021020037="" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c2021020037="" class="superscript" data-turn-source-index="4" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote></span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c1531356876="" style="line-height: 1.15 !important;"> <source-inline-chip _ngcontent-ng-c1531356876="" _nghost-ng-c815920949="" class="ng-star-inserted" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----></source-inline-chip><!----><!----><!----></sources-carousel-inline></p><p data-path-to-node="6" style="font-family: &quot;Google Sans Text&quot;, sans-serif !important; line-height: 1.15 !important;">While APSEZ has not officially confirmed the transaction—noting in regulatory exchange disclosures that it continuously evaluates strategic opportunities in alignment with its long-term corporate growth roadmaps—the news coincided with APSEZ reporting a strong Q1 FY27 financial performance with consolidated revenues expanding 19% YoY to ₹10,821 crore.</p><h4 data-path-to-node="8" style="font-family: &quot;Google Sans&quot;, sans-serif !important; line-height: 1.15 !important;"><b data-path-to-node="8" data-index-in-node="0" style="font-family: &quot;Google Sans Text&quot;, sans-serif !important; line-height: 1.15 !important;">Strategic Scale of Associated British Ports (ABP)</b></h4><p data-path-to-node="9" id="p-rc_0f453db29ccd1625-335" style="font-family: &quot;Google Sans Text&quot;, sans-serif !important; line-height: 1.15 !important;"><span class="citation-511 citation-end-511" style="line-height: 1.15 !important;">Associated British Ports stands as the essential backbone of the United Kingdom's seaborne trade architecture.<source-footnote ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c2021020037="" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c2021020037="" class="superscript" data-turn-source-index="5" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote></span> Operating a national network of <b data-path-to-node="9" data-index-in-node="143" style="line-height: 1.15 !important;">21 commercial seaports</b> across England, Scotland, and Wales, ABP handles approximately <b data-path-to-node="9" data-index-in-node="229" style="line-height: 1.15 !important;">25% of the UK's total seaborne merchandise traffic</b>.<sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c1531356876="" style="line-height: 1.15 !important;"> <source-inline-chip _ngcontent-ng-c1531356876="" _nghost-ng-c815920949="" class="ng-star-inserted" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----></source-inline-chip><!----><!----><!----></sources-carousel-inline></p><p data-path-to-node="10" style="font-family: &quot;Google Sans Text&quot;, sans-serif !important; line-height: 1.15 !important;">Key assets within the ABP portfolio include:</p><ul data-path-to-node="11" style="padding-inline-start: 32px; font-family: &quot;Google Sans Text&quot;, sans-serif !important; line-height: 1.15 !important;"><li style="line-height: 1.15 !important;"><p data-path-to-node="11,0,0" id="p-rc_0f453db29ccd1625-336" style="line-height: 1.15 !important;"><span class="citation-510" style="line-height: 1.15 !important;"></span><b data-path-to-node="11,0,0" data-index-in-node="0" style="line-height: 1.15 !important;">Port of Immingham:</b><span class="citation-510 citation-end-510" style="line-height: 1.15 !important;"> Located on the UK's east coast, it is Britain’s largest port by tonnage, serving as a critical entry point for dry bulk, energy products, and heavy manufacturing inputs.<source-footnote ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c2021020037="" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c2021020037="" class="superscript" data-turn-source-index="6" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote></span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c1531356876="" style="line-height: 1.15 !important;"> <source-inline-chip _ngcontent-ng-c1531356876="" _nghost-ng-c815920949="" class="ng-star-inserted" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----></source-inline-chip><!----><!----><!----></sources-carousel-inline></p></li><li style="line-height: 1.15 !important;"><p data-path-to-node="11,1,0" id="p-rc_0f453db29ccd1625-337" style="line-height: 1.15 !important;"><span class="citation-509" style="line-height: 1.15 !important;"></span><b data-path-to-node="11,1,0" data-index-in-node="0" style="line-height: 1.15 !important;">Port of Southampton:</b><span class="citation-509" style="line-height: 1.15 !important;"> The UK’s premier deepwater container and cruise gateway on the southern coast, handling over </span><b data-path-to-node="11,1,0" data-index-in-node="114" style="line-height: 1.15 !important;">£40 billion worth of UK exports annually</b><span class="citation-509 citation-end-509" style="line-height: 1.15 !important;"> and serving as a central hub for transatlantic trade corridors.<source-footnote ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c2021020037="" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c2021020037="" class="superscript" data-turn-source-index="7" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote></span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c1531356876="" style="line-height: 1.15 !important;"> <source-inline-chip _ngcontent-ng-c1531356876="" _nghost-ng-c815920949="" class="ng-star-inserted" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----></source-inline-chip><!----><!----><!----></sources-carousel-inline></p></li><li style="line-height: 1.15 !important;"><p data-path-to-node="11,2,0" id="p-rc_0f453db29ccd1625-338" style="line-height: 1.15 !important;"><span class="citation-508" style="line-height: 1.15 !important;"></span><b data-path-to-node="11,2,0" data-index-in-node="0" style="line-height: 1.15 !important;">Operational Volumes:</b><span class="citation-508" style="line-height: 1.15 !important;"> In 2025, ABP processed </span><b data-path-to-node="11,2,0" data-index-in-node="44" style="line-height: 1.15 !important;">42.5 million tonnes of bulk cargo</b><span class="citation-508" style="line-height: 1.15 !important;"> alongside </span><b data-path-to-node="11,2,0" data-index-in-node="88" style="line-height: 1.15 !important;">3.1 million units of containerized and Roll-on/Roll-off (Ro-Ro) freight</b><span class="citation-508" style="line-height: 1.15 !important;">, generating annual revenues of </span><b data-path-to-node="11,2,0" data-index-in-node="191" style="line-height: 1.15 !important;">£819.8 million</b><span class="citation-508" style="line-height: 1.15 !important;"> and an operating profit of </span><b data-path-to-node="11,2,0" data-index-in-node="233" style="line-height: 1.15 !important;">£586.5 million</b><span class="citation-508 citation-end-508" style="line-height: 1.15 !important;">.<source-footnote ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c2021020037="" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c2021020037="" class="superscript" data-turn-source-index="8" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote></span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c1531356876="" style="line-height: 1.15 !important;"> <source-inline-chip _ngcontent-ng-c1531356876="" _nghost-ng-c815920949="" class="ng-star-inserted" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----></source-inline-chip><!----><!----><!----></sources-carousel-inline></p></li></ul><h4 data-path-to-node="13" style="font-family: &quot;Google Sans&quot;, sans-serif !important; line-height: 1.15 !important;"><b data-path-to-node="13" data-index-in-node="0" style="font-family: &quot;Google Sans Text&quot;, sans-serif !important; line-height: 1.15 !important;">Shareholder Dynamics &amp; Transaction Structure</b></h4><p data-path-to-node="14" id="p-rc_0f453db29ccd1625-339" style="font-family: &quot;Google Sans Text&quot;, sans-serif !important; line-height: 1.15 !important;"><span class="citation-507" style="line-height: 1.15 !important;">The controlling interest currently under evaluation—totaling approximately </span><b data-path-to-node="14" data-index-in-node="75" style="line-height: 1.15 !important;">63.9% of ABP’s equity</b><span class="citation-507 citation-end-507" style="line-height: 1.15 !important;">—is held by two major Canadian pension funds:<source-footnote ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c2021020037="" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c2021020037="" class="superscript" data-turn-source-index="9" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote></span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c1531356876="" style="line-height: 1.15 !important;"> <source-inline-chip _ngcontent-ng-c1531356876="" _nghost-ng-c815920949="" class="ng-star-inserted" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----></source-inline-chip><!----><!----><!----></sources-carousel-inline></p><ol start="1" data-path-to-node="15" style="padding-inline-start: 32px; font-family: &quot;Google Sans Text&quot;, sans-serif !important; line-height: 1.15 !important;"><li style="line-height: 1.15 !important;"><p data-path-to-node="15,0,0" style="line-height: 1.15 !important;"><b data-path-to-node="15,0,0" data-index-in-node="0" style="line-height: 1.15 !important;">Ontario Municipal Employees Retirement System (OMERS):</b> Holding a 33.88% stake.</p></li><li style="line-height: 1.15 !important;"><p data-path-to-node="15,1,0" style="line-height: 1.15 !important;"><b data-path-to-node="15,1,0" data-index-in-node="0" style="line-height: 1.15 !important;">Canada Pension Plan Investment Board (CPPIB):</b> Holding a 30.00% stake.</p></li></ol><p data-path-to-node="16" id="p-rc_0f453db29ccd1625-340" style="font-family: &quot;Google Sans Text&quot;, sans-serif !important; line-height: 1.15 !important;"><span class="citation-506 citation-end-506" style="line-height: 1.15 !important;">Both institutional investors have reportedly engaged investment banks to manage the structured divestment process.<source-footnote ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c2021020037="" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c2021020037="" class="superscript" data-turn-source-index="10" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote></span> <span class="citation-505" style="line-height: 1.15 !important;">The remaining equity in ABP is held by Singapore’s sovereign wealth fund </span><b data-path-to-node="16" data-index-in-node="188" style="line-height: 1.15 !important;">GIC</b><span class="citation-505" style="line-height: 1.15 !important;">, Kuwait’s </span><b data-path-to-node="16" data-index-in-node="202" style="line-height: 1.15 !important;">Wren House Infrastructure</b><span class="citation-505" style="line-height: 1.15 !important;">, and </span><b data-path-to-node="16" data-index-in-node="233" style="line-height: 1.15 !important;">Anchorage Ports LLP</b><span class="citation-505 citation-end-505" style="line-height: 1.15 !important;"> (backed by Hermes Infrastructure).<source-footnote ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c2021020037="" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c2021020037="" class="superscript" data-turn-source-index="11" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote></span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c1531356876="" style="line-height: 1.15 !important;"> <source-inline-chip _ngcontent-ng-c1531356876="" _nghost-ng-c815920949="" class="ng-star-inserted" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----></source-inline-chip><!----><!----><!----></sources-carousel-inline></p><h4 data-path-to-node="18" style="font-family: &quot;Google Sans&quot;, sans-serif !important; line-height: 1.15 !important;"><b data-path-to-node="18" data-index-in-node="0" style="font-family: &quot;Google Sans Text&quot;, sans-serif !important; line-height: 1.15 !important;">"Empire Buys Back": Historical &amp; Geopolitical Significance</b></h4><p data-path-to-node="19" id="p-rc_0f453db29ccd1625-341" style="font-family: &quot;Google Sans Text&quot;, sans-serif !important; line-height: 1.15 !important;"><span class="citation-504 citation-end-504" style="line-height: 1.15 !important;">Market commentators and trade analysts have drawn historical parallels between Adani’s pursuit of ABP and earlier landmark UK acquisitions by Indian industrial groups, such as Tata’s buyouts of Tetley Tea, Corus Steel, and Jaguar Land Rover.<source-footnote ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c2021020037="" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c2021020037="" class="superscript" data-turn-source-index="12" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote></span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c1531356876="" style="line-height: 1.15 !important;"> <source-inline-chip _ngcontent-ng-c1531356876="" _nghost-ng-c815920949="" class="ng-star-inserted" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----></source-inline-chip><!----><!----><!----></sources-carousel-inline></p><p data-path-to-node="20" style="font-family: &quot;Google Sans Text&quot;, sans-serif !important; line-height: 1.15 !important;">However, maritime experts emphasize that the potential ABP transaction operates on a fundamentally different strategic plane:</p><blockquote data-path-to-node="21" style="font-family: &quot;Google Sans Text&quot;, sans-serif !important; line-height: 1.15 !important;"><p data-path-to-node="21,0" id="p-rc_0f453db29ccd1625-342" style="line-height: 1.15 !important;"><span class="citation-503" style="line-height: 1.15 !important;"></span><i data-path-to-node="21,0" data-index-in-node="0" style="line-height: 1.15 !important;">"Unlike consumer brands or automotive manufacturers, Associated British Ports is a core national utility operating 21 vital trade gateways across the British Isles,"</i><span class="citation-503 citation-end-503" style="line-height: 1.15 !important;"> explained a senior infrastructure analyst in London.<source-footnote ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c2021020037="" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c2021020037="" class="superscript" data-turn-source-index="13" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote></span> <span class="citation-502" style="line-height: 1.15 !important;"></span><i data-path-to-node="21,0" data-index-in-node="219" style="line-height: 1.15 !important;">"A takeover by India's port powerhouse reflects a symbolic re-balancing of economic influence, where capital from a former colony secures stewardship over critical infrastructure in the former imperial heartland."</i><span class="citation-502 citation-end-502" style="line-height: 1.15 !important;"><source-footnote ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c2021020037="" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c2021020037="" class="superscript" data-turn-source-index="14" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote></span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c1531356876="" style="line-height: 1.15 !important;"> <source-inline-chip _ngcontent-ng-c1531356876="" _nghost-ng-c815920949="" class="ng-star-inserted" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----></source-inline-chip><!----><!----><!----></sources-carousel-inline></p></blockquote><h4 data-path-to-node="23" style="font-family: &quot;Google Sans&quot;, sans-serif !important; line-height: 1.15 !important;"><b data-path-to-node="23" data-index-in-node="0" style="font-family: &quot;Google Sans Text&quot;, sans-serif !important; line-height: 1.15 !important;">Strengthening Adani's Global Transport Platform</b></h4><p data-path-to-node="24" id="p-rc_0f453db29ccd1625-343" style="font-family: &quot;Google Sans Text&quot;, sans-serif !important; line-height: 1.15 !important;"><span class="citation-501" style="line-height: 1.15 !important;">The potential UK expansion directly aligns with APSEZ’s stated corporate strategy to transition into a leading global integrated transport utility targeting </span><b data-path-to-node="24" data-index-in-node="157" style="line-height: 1.15 !important;">1 billion tonnes of annual cargo handling by 2030</b><span class="citation-501 citation-end-501" style="line-height: 1.15 !important;">.<source-footnote ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c2021020037="" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c2021020037="" class="superscript" data-turn-source-index="15" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote></span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c1531356876="" style="line-height: 1.15 !important;"> <source-inline-chip _ngcontent-ng-c1531356876="" _nghost-ng-c815920949="" class="ng-star-inserted" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----></source-inline-chip><!----><!----><!----></sources-carousel-inline></p><p data-path-to-node="25" style="font-family: &quot;Google Sans Text&quot;, sans-serif !important; line-height: 1.15 !important;">Over the past decade, APSEZ has systematically expanded its footprint outside its primary Indian coastal network (comprising 15 domestic ports including its flagship deepwater hub at Mundra):</p><ul data-path-to-node="26" style="padding-inline-start: 32px; font-family: &quot;Google Sans Text&quot;, sans-serif !important; line-height: 1.15 !important;"><li style="line-height: 1.15 !important;"><p data-path-to-node="26,0,0" style="line-height: 1.15 !important;"><b data-path-to-node="26,0,0" data-index-in-node="0" style="line-height: 1.15 !important;">Israel:</b> Holding a 70% controlling stake in the <b data-path-to-node="26,0,0" data-index-in-node="47" style="line-height: 1.15 !important;">Port of Haifa</b>.</p></li><li style="line-height: 1.15 !important;"><p data-path-to-node="26,1,0" id="p-rc_0f453db29ccd1625-344" style="line-height: 1.15 !important;"><span class="citation-500" style="line-height: 1.15 !important;"></span><b data-path-to-node="26,1,0" data-index-in-node="0" style="line-height: 1.15 !important;">Sri Lanka:</b><span class="citation-500" style="line-height: 1.15 !important;"> Operationalizing the </span><b data-path-to-node="26,1,0" data-index-in-node="32" style="line-height: 1.15 !important;">Colombo West International Terminal (CWIT)</b><span class="citation-500 citation-end-500" style="line-height: 1.15 !important;">.<source-footnote ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c2021020037="" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c2021020037="" class="superscript" data-turn-source-index="16" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote></span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c1531356876="" style="line-height: 1.15 !important;"> <source-inline-chip _ngcontent-ng-c1531356876="" _nghost-ng-c815920949="" class="ng-star-inserted" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----></source-inline-chip><!----><!----><!----></sources-carousel-inline></p></li><li style="line-height: 1.15 !important;"><p data-path-to-node="26,2,0" id="p-rc_0f453db29ccd1625-345" style="line-height: 1.15 !important;"><span class="citation-499" style="line-height: 1.15 !important;"></span><b data-path-to-node="26,2,0" data-index-in-node="0" style="line-height: 1.15 !important;">Tanzania:</b><span class="citation-499" style="line-height: 1.15 !important;"> Managing major container handling facilities at </span><b data-path-to-node="26,2,0" data-index-in-node="58" style="line-height: 1.15 !important;">Port of Dar es Salaam</b><span class="citation-499 citation-end-499" style="line-height: 1.15 !important;">.<source-footnote ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c2021020037="" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c2021020037="" class="superscript" data-turn-source-index="17" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote></span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c1531356876="" style="line-height: 1.15 !important;"> <source-inline-chip _ngcontent-ng-c1531356876="" _nghost-ng-c815920949="" class="ng-star-inserted" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----></source-inline-chip><!----><!----><!----></sources-carousel-inline></p></li><li style="line-height: 1.15 !important;"><p data-path-to-node="26,3,0" id="p-rc_0f453db29ccd1625-346" style="line-height: 1.15 !important;"><span class="citation-498" style="line-height: 1.15 !important;"></span><b data-path-to-node="26,3,0" data-index-in-node="0" style="line-height: 1.15 !important;">Australia:</b><span class="citation-498" style="line-height: 1.15 !important;"> Operating the </span><b data-path-to-node="26,3,0" data-index-in-node="25" style="line-height: 1.15 !important;">North Queensland Export Terminal (NQXT)</b><span class="citation-498 citation-end-498" style="line-height: 1.15 !important;">.<source-footnote ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c2021020037="" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c2021020037="" class="superscript" data-turn-source-index="18" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote></span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c1531356876="" style="line-height: 1.15 !important;"> <source-inline-chip _ngcontent-ng-c1531356876="" _nghost-ng-c815920949="" class="ng-star-inserted" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----></source-inline-chip><!----><!----><!----></sources-carousel-inline></p></li></ul><p data-path-to-node="27" style="font-family: &quot;Google Sans Text&quot;, sans-serif !important; line-height: 1.15 !important;">Acquiring a controlling stake in ABP would instantly grant Adani direct operational access to Western European trade loops, providing an integrated bridge connecting Asian manufacturing supply corridors directly into UK consumer and industrial markets.</p>