Allcargo Logistics Limited announced it has acquired a majority stake in Madanahatti Logistics and Industrial Parks Private Limited.
According to the company’s exchange filing, “this is to inform you that Allcargo Logistics Limited (”Company”), has entered into a Securities Purchase Agreement (“SPA”) on February 21, 2023, with BRE Asia Urban Holdings Ltd. (the “Seller”) to acquire: (a) 5,40,000 (Five Lakhs and Forty Thousand) equity shares (representing 90% of the equity share capital), and (b) 1,07,78,147 (One Crore, Seven Lakhs, Seventy Eight Thousand, One Hundred and Forty Seven) Class A Optionally Convertible Debentures (“Class A OCDs”) of Madanahatti Logistics and Industrial Parks Private Limited (the “Target”’).”
“The said acquisition of the Target Company aligns with the real estate business being demerged into TransIndia Realty & Logistics Parks Limited and is a strategic fit with future plans,” the statement said.
Madanahatti Logistics and Industrial Parks Private Limited is engaged in the business of warehousing leasing, it’s management and such other related activities.
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