…Pristine Malwa Logistics Park, the parent of Sical Logistics Ltd, and its holding company Pristine Logistics and Infraprojects Ltd, have signed Share Purchase and Shareholders Agreements for the acquisition of DLI India.
Mumbai - Pristine Malwa Logistics Park Pvt Ltd (Pristine Malwa), has agreed to acquire Distribution Logistics Infrastructure Pvt Ltd and its group companies (DLI India) from the Alternative Investment Market (AIM) London-listed Infrastructure India Plc in a stock and cash deal.
The acquisition will help the rail-focussed logistics firm expand further into the hinterland riding on the Indian Railways plan to raise modal share in freight from 27 percent to 45 percent by 2030 to cut carbon emissions.
The agreements were signed with DLI India, its AIM listed parent Infrastructure India Plc (IIP), and IIP’s subsidiary in Mauritius, DLI Mauritius.
The deal involves DLI Mauritius selling 100 percent of the equity of DLI India to Pristine Malwa Logistics Park, which will become the sole owner of all the IIP’s logistics entities in India.
The transaction is subject to fulfilment of customary conditions precedent and approval from DLI India’s lenders.
The acquisition will be through a mix of shares in Pristine Malwa Logistics Park and cash, which shall be finalised at completion based on customary adjustments.
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