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Adani drops out of Snowman acquisition as Covid shrinks industry valuation

Snowman Logistics stock is down 35% since deal was announced last December; valuation also hit by Rs 13 cr loss reported by company in first nine months of FY20

Topics
Lockdown | Adani Enterprises | Gautam Adani

Dev Chatterjee  |  Mumbai 



Snowman Logistics
Several acquisition transactions have not closed due to ongoing Corona pandemic and its impact on the Indian economy | Photo: Snowman Logistics | Wikipedia

has decided not to go ahead with the acquisition of Ltd, a cold- chain company, after valuations in the industry fell sharply due to the ongoing Coronavirus pandemic, sources close to the deal said.

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First Published: Mon, May 11 2020. 15:54 IST

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