Profit

Gateway Distriparks executes share subscription agreement with International Finance Corporation

 Share
EMAIL
PRINT
COMMENTS
On 17 December 2009Gateway Distriparks has announced that the company and its subsidiary, Snowman Frozen Foods (SFFL) on 17 December 2009 have executed a share subscription agreement with International Finance Corporation (IFC) pursuant to which IFC will invest Rs 24.89 crore in SFFL by subscription to SFFL's equity shares. Simultaneously, GDL, SFFL, IFC, Mitsubishi Corporation (MC), Mitsubishi Logistics Corporation (MIC), and Nichirei Logistics Group Inc. (Nichirei) have entered into a shareholders agreement and related agreements governing the management of the company and the rights of the shareholders.


Meanwhile, GDL has acquired a further 16.29% shareholding in SFFL from MC. Following this acquisition and on completion of the IFC subscription as above, the shareholding of SFFL will be as follows: GDL - 53.12%, MC, MLC and Nichirei - 25.92% and IFC - 19.99%.

NDTV Beeps - your daily newsletter

................................ Advertisement ................................

................................ Advertisement ................................

................................ Advertisement ................................

Top