M&A

M&A

Logistics player Gateway Distriparks to acquire ICD Kashipur for over Rs.156-Cr

BSE Disclosure  

Publicly-listed Gateway Distriparks Ltd (GDL) is to acquire a 99.92% stake in Kashipur Infrastructure and Freight Terminal Pvt Ltd (KIFTPL) from its current shareholders including Apollo LogiSolutions Limited, India Glycols Ltd and Kashipur Holdings, for INR 156 crore. The process to acquire the remaining 0.08% shareholding from Fourcee Infrastructure Equipments Pvt Ltd, 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 17,000 square feet of warehousing space. The target market in the region includes various industries such as paper products, wastepaper, chemicals, home furnishings, handicrafts, automotive parts, polyfilms, soda ash and other industrial goods.