New Delhi: Container logistics firm Gateway Distriparks Ltd will acquire global private equity major Blackstone’s entire shareholding in its freight company Gateway Rail Freight for Rs810 crore.
“The board of directors...approved the acquisition of entire shareholding held by Blackstone in compulsorily convertible preference shares (CCPS) and equity shares in Gateway Rail Freight for a total consideration of Rs810 crore,” Gateway Distriparks said in a BSE filing.
Post the transaction, Gateway Distriparks’ shareholding in Gateway Rail Freight will be 99.80%, it added. The company said that the acquisition is to be completed within 90 days, subject to statutory and regulatory approvals as may be required.
Gateway Rail provides intermodal logistics and operates its own rail-linked Inland Container Depots (ICD) at Gurgaon, Faridabad, Ludhiana, and Sanand. It also runs a domestic terminal at Mumbai.
The company operates a fleet of 23 trains and more than 265 owned road trailers at its terminals. Shares of Gateway Distriparks were trading 19.75% higher at Rs198.90 on BSE.