Arshiya has entered into a binding term sheet with Ascendas Property Fund Trustee (APFT), whereby APFT, in its capacity as Trustee-Manager of Ascendas India Trust, has agreed, subject to satisfactory due diligence, agreement on definitive documentation and obtaining necessary Board approvals, to acquire 6 warehouses (totaling 8,32,000 square feet) of Arshiya at its Free Trade & Warehousing Zone (FTWZ) located at Panvel, near Mumbai.
The term sheet also envisages the financing of the future development on the available surplus land which has development potential of approximately 4 million square feet within the existing notified area.
The indicative gross consideration envisaged is Rs 534 crore, to be paid in two tranches; Rs 434 crore upon signing of a definitive agreement and the balance Rs 100 crore to be paid over 4 years on achieving certain milestones.
Company Name | CMP |
---|---|
Allcargo Logistics | 69.50 |
TVS Supply Chain Sol | 170.30 |
Container Corp | 1033.90 |
Mahindra Logistics | 437.05 |
Transport Corp. | 899.00 |
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