India: Adani Ports plans to exit its investment Myanmar by mid-2022
"Adani Ports planning to exit its investment in Myanmar by June 2022", 27 October 2021
Adani Ports, India's largest private port-operator, is planning to exit its investment in Myanmar by June 2022, the company said in a regulatory filing...
"The company’s risk management committee, after a review of the situation, has decided to work on a plan on exiting company’s investment in Myanmar, including exploring any divestment opportunities," Adani Ports informed the stock exchanges.
The company is expected to fully exit the investment in the strife-torn south Asian nation between March and June next year, it said.
The announcement comes weeks after Adani Ports applied for a US licence to operate a container terminal in Myanmar, saying it believed it did not violate sanctions.
Adani had said...it would abandon a Myanmar container terminal project and write down the investment if found to be in violation of U.S. sanctions.
The ports operator said...it had asked the United States' Office of Foreign Assets Control (OFAC) for a licence to operate the Myanmar container terminal.