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Gateway Distriparks has entered into a share purchase agreement to sell its second CFS - Chandra CFS & Terminal Operators Private Limited - to Team Global Logistics Private Limited (TeamGlobal), for ₹47 crore and an amount equal to earnings before depreciation and amortisation for a period of April 1, 2019 to closing date.
Further, TeamGlobal will be placing ₹2 crore in an escrow account as a commitment fee, which will be adjusted as part of the purchase consideration on closing. The transaction is expected to close in 45 days, the company said. Shares of Gateway Distriparks slipped 0.34 per cent at ₹87.70 on the BSE.
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