Khaitan & Co advised Gateway Distriparks (GDL) on the 100% acquisition of Kashipur Infrastructure and Freight Terminal from its existing shareholders Apollo Logisolutions, India Glycols and Kashipur Holdings for a total of INR1.56 billion (USD19.2 million).
GDL emerged as the successful bidder from the auction of the shares. Khaitan & Co partner Prasenjit Chakravarti led the transaction team, with assistance from partner Nitish Goel, principal associates Sushmita Sarin and Sanjana Bhatnagar, senior associate Vishakha Singh and associate Shivansh Mehta.
Khaitan advised GDL on the bid and drafting the offer documents. The team also assisted GDL with legal due diligence of the acquisition target, and drafting and negotiating the share purchase agreement along with ancillary transaction documents.
Ernst and Young was GDL’s financial adviser and PricewaterhouseCoopers was the transaction manager cum bid adviser. Trilegal was the adviser for the Kashipur terminal and its shareholders.