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Adani Logistics Ltd is acquiring Innovative B2B Logistics Solutions Pvt Ltd from private equity firm True North for an enterprise value of ₹331 crore. The transaction will be an all-cash deal and is expected to be completed by Q1 FY19-20.
Adani will acquire 97.03 per cent of shares from True North and its affiliates and balance shares consisting up to 2. 97 per cent held by other shareholders within 60 days of the closing. Innovative 828 Logistics Solutions Pvt. Ltd. (lnlog) provides integrated logistics services for domestic cargo movement and is considered to be a prominent operator with circuits connecting Eastern and Northern hinterland.
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