Gateway Distriparks will be acquiring Blackstone’s stake in Gateway Rail.

The company has entered into a share purchase agreement for acquiring the entire compulsorily convertible preference shares (CCPS) and equity shares held by Blackstone GPV Capital Partners (Mauritius) V-H, in Gateway Rail Freight for cash consideration of Rs.810 crore.

There are no governmental or regulatory approvals required for the acquisition and the acquisition is expected to be completed on or before September 28, 2018. Further, with this acquisition company’s holding in its subsidiary, Gateway Rail Freight will increase from 50.001% to 99.80%.

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