Hindustan Infralog Private Limited (HIPL), a joint venture between DP World and the National Investment and Infrastructure Fund (NIIF), announced the acquisition of a 90 percent stake in Continental Warehousing Corporation (Nhava Seva) Ltd (CWCNSL), an integrated multimodal logistics player in India. CWCNSL’s founders, the Reddy family, will retain the remaining 10 percent shareholding and will remain involved in the business operations.
The purchase consideration is below 5 percent of DP World’s net asset value as of FY2017 and it is the first investment of HIPL, the recently created investment vehicle between DP World and NIIF to invest up to $3 billion in ports, logistics and related sectors.
The purchase consideration is below 5 percent of DP World’s net asset value as of FY2017 and it is the first investment of HIPL, the recently created investment vehicle between DP World and NIIF to invest up to $3 billion in ports, logistics and related sectors.
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