Adani Ports and Special Economic Zone Limited (APSEZL) is reportedly exploring the possibility of acquiring a controlling stake in Gujarat Pipavav Port Limited (GPPL). APSEZL has initiated the process to acquire APM Terminals Management B.V.’s 43.01 per cent stake in GPPL. The enterprise value of the port is about $1 billion. If the transaction takes place, APSEZL may look to acquire a controlling stake of 51 per cent or more by way of an open offer. Besides APM Terminals’ 43.01 per cent stake, foreign institutions hold a 37.19 per cent stake and Indian institutions hold a 13.34 per cent stake in GPPL, with the non-promoter holding being 1.79 per cent. About 4.67 per cent is with the public and others. Apart from APSEZL, the JSW Group and DP World are also in talks for buying the stake.