JSW Infrastructure to buy 70.3% stake in Navkar Corp

JSW Infrastructure (via its subsidiary JSW Port Logistics) is to acquire a 70.3% stake (105,919,675 shares) in fellow publicly listed Navkar Corporation Limited at an enterprise value of INR 1,644.03 crore. The acquisition will be followed by an open offer. The acquisition will help JSW Infrastructure foray into logistics and other value-added services.JM Financial Limited acted as the exclusive financial advisor to the acquirer for this transaction.Navkar Corp has three container freight stations, Gati Shakti Cargo Terminal at Panvel near Mumbai and an inland container depot at Morbi, Gujarat, which is part of the multimodal logistics park.