The agreement is for the development and operations of logistics and warehousing parks in Ahmedabad and Kolkata.
Company will acquire 1,50,000 shares for a consideration of Rs406.5 crore.
The proposed combination envisages the acquisition of ~7% shareholding of Busybees Logistics Solutions Private Limited (Xpressbees) by TPG Growth V SF Markets Pte. Ltd. (TPG SF).
The Acquirer is a newly incorporated entity and at present does not have any business operations, in India or worldwide.
The acquisition was set to be completed by end of February 2022 but the closing requirements are still underway, the company said.
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