The board of directors of container logistics firm Gateway Distriparks has approved the acquisition of the entire shareholding held by Blackstone in compulsorily convertible preference shares and equity shares in Gateway Rail Freight for a total consideration of Rs 8.1 billion. Post the transaction, Gateway Distriparks’ shareholding in Gateway Rail Freight will be 99.8 per cent. The acquisition is expected to be completed within 90 days, subject to statutory and regulatory approvals.
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