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Logistics services provider Apollo LogiSolutions has said it has divested Kashipur Infrastructure and Freight Terminal (KIFTPL) to Gateway Distriparks.
Gateway Distriparks Limited has today completed the acquisition of Kashipur Infrastructure and Freight Terminal Private Limited, which owns and operates ICD Kashipur located in Uttarakhand.
The agreed purchase consideration for the acquisition of 99.92% shareholding of KIFTPL from its shareholders is Rs156 crore.
The Board of Directors of India Glycols Ltd has, considered and approved the execution of a SPA for sale of Company's entire investment in equity shares in joint venture namely Kashipur Infrastructure and Freight Terminal Pvt Ltd.
Logistics must be a priority area considering its importance and associated benefits to other sectors, says Apollo International's Raaja Kanwar.