Gateway Distriparks (GDL) has terminated a share purchase agreement to sell its entire stake of 40.25 per cent in Snowman Logistics to Adani Logistics for a consideration of Rs 295.92 crore. The condition for completion of the transaction by March 31 was not met by the acquirer despite without prejudiced good faith attempts to resolve the matter.
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.
