Gateway Distriparks to acquire a rail connected inland container depot

3 Nov 2022 , 01:34 AM

Gateway Distriparks GDL has signed a Share Purchase Agreement SPA with Kashipur Infrastructure and Freight Terminal KIFTPL and its majority shareholders namely Apollo LogiSolutions India Glycols and Kashipur Holdings on 31 October 2022 to acquire KIFTPL The agreed purchase consideration for the acquisition of 9992Percentage shareholding of KIFTPL from its shareholders is Rs 156 crore subject to certain pre-closing and post-closing adjustments in accordance with the terms of the SPA which is expected to close at the end of Q3 of FY 2022-23 The process to acquire the remaining 008Percentage shareholding from Fourcee Infrastructure Equipments which is in liquidation has been initiated KIFTPL owns and operates a rail connected inland container depot ICD at Kashipur Uttarakhand The facility is spread over 41 acres has three rail sidings and 17000 square feet of warehousing space