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Last Updated : Aug 30, 2013 08:45 AM IST | Source: Moneycontrol.com

Gateway Distriparks enters in share sale agreement with Nichirei Logistics Corp

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

 
 
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Gateway Distriparks Ltd (GDL) has informed BSE that the Company has executed Share Sale Agreement with Nichirei Logistics Corporation (Nichirei) to acquire Nichirei’s stake of about 6% (7.4 Million shares) in Snowman Logistics Limited (SLL) for about Rs. 25.90 Crores.Post the acquisition, GDL’s holding in SLL will increase to about 54%.Further the Company has informed that, SLL has filed the Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on August 29, 2013, for an initial public offering (IPO) of its equity shares (42 Million) for raising capital - subject to applicable rules.Source : BSE

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First Published on Aug 30, 2013 08:45 am
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