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Gateway Distriparks to acquire 6% stake in Snowman Logistics

29 Aug 2013 Evaluate

Gateway Distriparks (GDL) has executed Share Sale Agreement (SSA) with Nichirei Logistics Corporation (Nichirei) to acquire Nichirei's stake of about 6% (7.4 Million shares) in Snowman Logistics (SLL) for about Rs 25.90 crore. Post the acquisition, GDL's holding in SLL will increase to about 54%.

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. The company operates CFS located at Dronagiri, Navi Mumbai, New Manali, Chennai, Vishakapatnam and Inland Container Depot at Garhi Harsaru (near Delhi) and Haryana.

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