Stocks

Adani group acquires 40% stake in Snowman

| Updated on December 27, 2019 Published on December 27, 2019

 

Adani Logistics has acquired a majority stake in Snowman Logistics for ₹296 crore, marking its foray into cold-chain logistics. Adani Logistics, a wholly owned subsidiary of Adani Ports and SEZ Ltd, has signed an agreement to acquire 40.25 per cent stake or 6.72 crore shares in Snowman Logistics from Gateway Distriparks, at ₹44 a share. This would trigger a mandatory open offer to the shareholders of Snowman Logistics. Shares of Gateway Distriparks and Snowman will remain in focus.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on December 27, 2019
This article is closed for comments.
Please Email the Editor