Gammon Infrastructure acquires 24 per cent in Indira Container

Gammon Infrastructure Projects Limited (GIPL) has acquired a 24 per cent stake in Indira Container Terminal Private Limited (ICTPL) from Spain’s Noatum Ports, S.L.U. for Rs 150 billion. A total of 24.37 million of equity shares with a face value of Rs 10 each have been bought by GIPL from Noatum Ports. Post the stake acquisition, GIPL holds a 74 per cent stake in ICTPL and Noatum Ports holds 26 per cent. ICTPL has now become a subsidiary of GIPL.