Gateway Distriparks has entered into a Share Purchase Agreement (SPA) for acquiring the Compulsorily Convertible Preference Shares (CCPS) and Equity Shares held by Blackstone GPV Capital Partners (Mauritius) V-H (Blackstone) in Gateway Rail Freight (GRFL) on June 26, 2018.
The company is acquiring the entire CCPS and Equity Shares held by Blackstone in GRFL entirely for cash consideration. The total cash consideration will be Rs 810 crore.
The acquisition is expected to be completed on or before September 28, 2018. The acquisition by the company will result in its holding in its subsidiary, GRFL, to go up from 50.001% to 99.80%.
Gateway Distriparks is engaged in the business of warehousing, container freight stations, providing handling and clearance of sea borne export-import trade in containerized form.
