Khaitan & Co and Bharucha & Partners recently advised on the Blackstone Group’s acquisition of a Rs3 billion (US$64.5 million) stake in logistics company Gateway Rail Freight, a subsidiary of Gateway Distriparks.
Mumbai partner Rabindra Jhunjhunwala and senior associate Ashwin Matthew led the Khaitan & Co team acting for Blackstone. For Bharucha & Partners, co-founding partner Alka Bharucha and senior associate Dipankar Bandyopadhyay advised Gateway Rail Freight.
The deal marks Blackstone’s first journey into the Indian rail freight sector. The private equity house will acquire a stake of up to 49.9% in Gateway Rail Freight, which has become India’s largest private container train and inland container depot operator following the deregulation of the sector by in 2006.
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