Adani Logistics to acquire Innovative B2B Logistics Solutions for Rs 331.5 cr

Adani Logistics Limited (ALL) Thursday said it would acquire up to 100 per cent stake in Innovative B2B Logistics Solutions, an entity controlled by private equity firm True North, for Rs 331.5 crore.

The transaction will be an all-cash deal and is expected to be completed by first quarter of the next fiscal, said ALL -- a wholly owned subsidiary of Adani Ports and SEZ Limited (APSEZ) -- in a release.

"The acquisition is complementary to ALL adding meaningful Size, Scale and Diversification. It enables ALL to expand its total addressable market, enhance network coverage and create a value chain to handle dry cargo segment," it said.

Karan Adani, CEO and Whole Time Director of APSEZ said with this acquisition, ALL will become the largest private rail and logistics park operator in India.

ALL operates six facilities with three Logistics Parks, two EXIM yards and one container yard.

Founded in 2006, Innovative B2B Logistics Solutions provides integrated logistics services for domestic cargo movement.