Business Standard

Brokerages bullish on Adani Ports post acquisition of Snowman Logistics

The sale to ADSEZ is part of Gateway's plan to divest its non-core assets, deleverage its balance sheet, and fund future capital expenditure plans in the rail segment.

Adani Ports

Ram Prasad Sahu
In a deal expected to benefit both companies, Adani Ports and SEZ (ADSEZ) acquired India’s largest cold chain company Snowman Logistics from Gateway Distriparks.

The deal for a 40.25 per cent stake in Snowman for Rs 296 crore pegs the enterprise value at 11.6x its 2020-21 operating profit.

ADSEZ’s third logistics-related acquisition this year comes at a premium, largely due to the potential of the cold chain business and Snowman’s aggressive plans. The company plans to double the capacity over the next five years at a cost of Rs 580 crore. The acquisitions and expansion are in line with ADSEZ’s

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Dec 30 2019 | 9:15 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers.

Register to