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DP World and Indian fund acquire 90pc of multimodal logistics firm
来源： 编辑：编辑部 发布：2018/03/22 10:42:32
HINDUSTAN Infralog Private Limited (HIPL), a joint venture between DP World and India's National Investment and Infrastructure Fund (NIIF), has invested in a 90 per cent stake in multimodal logistics companyContinental Warehousing Corporation (Nhava Seva) Ltd (CWCNSL).
CWCNSL's founders, the Reddy family, will retain the remaining 10 per cent shareholding and will remain involved in the business operations, reported Dubai's Construction Business News.
The purchase consideration is below five per cent of DP World's net asset value as of FY2017 and it is the first investment of HIPL, the recently created investment vehicle between DP World and NIIF to invest up to US$3 billion in ports, logistics and related sectors.
CWCNSL was founded in 1997 and is a provider of warehousing, container freight stations, inland container depots, private freight terminals and integrated logistics solutions. Its network is spread across India and covers a total area of 400 acres and boasts 660,000 TEU of capacity.
Furthermore, CWCNSL's wholly owned subsidiary Delex Cargo India Private offers door-to-door logistics solutions including freight forwarding, third party logistics, express logistics and hub-and-spoke model of delivery across 54 locations in 40 cities.
The acquisition of CWCNSL aims to enhance DP World's presence in the entire logistics value chain in India. The current operations of CWCNSL are highly complementary to the group's existing business in terms of the business model and geographic footprint providing significant new revenue opportunities over the long term.
DP World CEO Sultan Ahmed Bin Sulayem said: "We are delighted to start our recent partnership with NIIF with this strategic acquisition to develop logistics and warehousing solutions to support India's growing economy and trade.
"Its a global trade enabler, we aim to grow in complementary sectors of the global supply chain, which includes inland container terminals, freight corridors and logistics infrastructure."
CWCNSL founder Adi Keshav Reddy added: "The strategic partnership with Hindustan Infralog and its parent DP World will have huge potential for logistics infrastructure in India and will enable our company to enhance its end-to-end value-added services to customers."
CWCNSL's founders, the Reddy family, will retain the remaining 10 per cent shareholding and will remain involved in the business operations, reported Dubai's Construction Business News.
The purchase consideration is below five per cent of DP World's net asset value as of FY2017 and it is the first investment of HIPL, the recently created investment vehicle between DP World and NIIF to invest up to US$3 billion in ports, logistics and related sectors.
CWCNSL was founded in 1997 and is a provider of warehousing, container freight stations, inland container depots, private freight terminals and integrated logistics solutions. Its network is spread across India and covers a total area of 400 acres and boasts 660,000 TEU of capacity.
Furthermore, CWCNSL's wholly owned subsidiary Delex Cargo India Private offers door-to-door logistics solutions including freight forwarding, third party logistics, express logistics and hub-and-spoke model of delivery across 54 locations in 40 cities.
The acquisition of CWCNSL aims to enhance DP World's presence in the entire logistics value chain in India. The current operations of CWCNSL are highly complementary to the group's existing business in terms of the business model and geographic footprint providing significant new revenue opportunities over the long term.
DP World CEO Sultan Ahmed Bin Sulayem said: "We are delighted to start our recent partnership with NIIF with this strategic acquisition to develop logistics and warehousing solutions to support India's growing economy and trade.
"Its a global trade enabler, we aim to grow in complementary sectors of the global supply chain, which includes inland container terminals, freight corridors and logistics infrastructure."
CWCNSL founder Adi Keshav Reddy added: "The strategic partnership with Hindustan Infralog and its parent DP World will have huge potential for logistics infrastructure in India and will enable our company to enhance its end-to-end value-added services to customers."