Gateway Distriparks update on proposed divestment of Snowman Logistics to Adani Logistics

Gateway Distriparks provided an update with reference to the proposed sale of entire shareholding held by the Company in Snowman Logistics (SLL) to Adani Logistics (Acquirer) by 31 March 2020. The company announced that the condition for completion of transaction by 31 March 2020 was not met by the Acquirer despite without prejudiced good faith attempts to resolve the matter, and the Agreement is not in force due to repudiation thereof by the Acquirer. The Acquirer has been so informed.

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