Adani, Gateway Distriparks resolve dispute related to Snowman Logistics acquisition

APSEZL and Gateway Distriparks Limited have resolved their dispute over the cancellation of the former’s planned acquisition of Snowman Logistics Limited, a Gateway subsidiary. The two companies had agreed not to proceed with the acquisition and mutually settle all disputes relating to the matter. Gateway Distriparks will continue to be Snowman’s promoter company, with Adani remaining a minority shareholder. Gateway Distriparks had withdrawn arbitration proceedings against Adani Logistics. Adani Logistics will not be involved in the day-to-day management or business operations of Snowman and will not have a right to nominate or appoint any director to the board.