Hotline: 1800 102 2007
Hotline: 1800 102 2007
Mar, 19 2018

DP World, NIIF JV to acquire PE-backed Continental Warehousing

This is the first investment by Hindustan Infralog, after it stated that it would invest up to $3 billion in ports, logistics and related sectors.

DP World, NIIF JV to acquire PE-backed Continental Warehousing

Hindustan Infralog Pvt. Ltd, a joint venture between Dubai-based DP World and the National Infrastructure Investment Fund (NIIF), has agreed to acquire a 90% stake in Warburg Pincus-backed Continental Warehousing Corporation (Nhava Seva) Ltd.

This is the first investment by Hindustan Infralog, after it stated that it would invest up to $3 billion in ports, logistics and related sectors.

Sultan Ahmed Bin Sulayem, group chairman and CEO at DP World, in a statement said, “As a global trade enabler, we aim to grow in complementary sectors of the global supply chain, which includes inland container terminals, freight corridors and logistics infrastructure. The acquisition of Continental Warehousing Corporation provides us with a scalable platform to accelerate growth in the rapidly evolving logistics sector in India.”

Continental Warehousing’s promoter Reddy family will retain a 10% stake in the company.

Continental founder Adi Keshav Reddy said the deal will enable the company to enhance its value-added services to customers.

The deal will allow all of Continental Warehousing’s investors to exit. These investors are Warburg Pincus, UAE-based private equity firm Abraaj Capital and International Finance Corporation, the World Bank’s private-sector investment arm.

Abraaj, which had picked up a stake in Continental Warehousing in 2012 when it acquired Aureos Capital, was earlier looking to exit completely via a public listing of the company.

The company had filed for an initial public offering in September 2016. It got regulatory approval to go public in December 2016. The approval is valid for one year and lapsed in December 2017.

Warburg, which held a 40.4% stake in the company, was planning to sell a third of its holding. IFC had backed the company only in 2015.

Continental Warehousing was founded in 1997 and provides services like warehousing, container freight stations, inland container depots, private freight terminals and integrated logistics solutions. The company’s wholly owned subsidiary Delex Cargo India Pvt. Ltd provides door-to-door logistics solutions including freight forwarding, third-party logistics, express logistics and hub-and-spoke model of delivery across 54 locations in 40 cities.

In India, DP World has been operating container port terminals since 1997. DP World is present at six locations in India and also operates container trains connecting ports to the hinterland.

sharebtn
Comment
user
email
mobile
address
star
Related opportunities
  • Franchise/ Own your own Grocery 4U Grocery 4U was founded by..
    Locations looking for expansion Uttar Pradesh
    Establishment year 2019
    Franchising Launch Date 2020
    Investment size Rs. 20lac - 30lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Noida Uttar Pradesh
  • Juices / Smoothies / Dairy Parlors
      Format Investment Brand Fee Space Staff Exp. Monthly Sales ..
    Locations looking for expansion Maharashtra
    Establishment year 2018
    Franchising Launch Date 2019
    Investment size Rs. 2lac - 5lac
    Space required 120
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mulshi Maharashtra
  • Others Food Service
      Beginning as a modest café in 1953, Paradise has grown..
    Locations looking for expansion Andhra pradesh
    Establishment year 1953
    Franchising Launch Date 2020
    Investment size Rs. 50lac - 1 Cr.
    Space required 1200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Hyderabad Andhra pradesh
  • Digital Media & Internet Marketing
    Newsorb360 Is a unique Digital Media Platform which promote digitalisation..
    Locations looking for expansion Haryana
    Establishment year 2020
    Franchising Launch Date 2020
    Investment size Rs. 2lac - 5lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Faridabad Haryana
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities