Starlog Enterprises’ wholly owned subsidiary -- Starport Logistics (SLL) has received approval to sell its entire stake being 75,00,060 Equity Shares aggregating to 29.60% of the paid-up Equity Share Capital in its Associate Company, India Ports & Logistics (IPLPL) for an aggregate consideration of Rs 16.50 crore to Bollore Logistics India. In connection of the same, Starport Logistics has entered in a Share Purchase agreement (SPA) dated December 14, 2022 for disposal of its entire stake of 29.60% Equity holding held in IPLPL.
Pursuant to execution of the SPA and transfer of shares, SLL’s shareholding in IPLPL would become nil, and as a result, IPLPL would cease to be an associate company of SLL.
Starlog Enterprises incorporated in 1983 specializes in Crane hiring, Port infrastructure and Port Services.
