Forbes & Company has received approval for entering into Memorandum of Understanding (MOU) with GPX India (GPX) and Equinix India (Equinix) (upon Equinix exercising its right of substitution/step in) for sale of approximately 3.804 acres of land at Chandivali for a consideration of Rs 200 crore.
The MOU is terminable at the option of GPX. The Agreement for Sale is expected to be executed by January 31, 2021 and the completion of the Proposed Transaction subject to due diligence, execution of definitive documents, and fulfillment of various condition precedents, is expected to be completed in March 2021.
Forbes & Company has three main businesses; namely engineering, shipping and logistics and business automation.
