Adani Logisticsto acquire Inland Container Depot at Tumb Village, Gujarat

16 Aug 2022 , 09:17 AM

Adani Logistics, a wholly owned subsidiary of Adani Ports and Special Economic Zone, has signed a definitive agreement to acquire the Inland Container Depot (ICD) ?Tumb? (Vapi) from Navkar Corporation for an enterprise value of Rs 835 crore. The deal comprises acquisition of the operational ICD with capacity to handle 0.5 million TEUs. The associated 129 acres of land provides an additional expansion path to increase capacity and cargo in near future as additional industrial corridors and logistic parks get added along these DFC routes. The Tumb ICD has a private freight terminal with four rail handling lines connected with Western DFC and has custom notified land & bonded warehouse facilities. The acquisition based on the land value and replacement cost of existing assets is priced at an enterprise value of Rs 835 crore, implying an EV/EBITDA multiple of 7.8x (based on FY23(E) EBITDA). The deal is subject to customary regulatory and lenders approvals and is expected to close in Q2 FY23.Powered by Capital Market – Live News