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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 99.92% 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 0.08% 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 17,000 square feet of warehousing space.
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