Allcargo Logistics Limited’s (the “Company”) had demerged into two entities – Allcargo Terminals Limited (“Resulting Company 1”) and TransIndia Realty & Logistics Parks Limited (“Resulting Company 2”). The Company has transferred Logistics Parks, Leasing of real estate and Project and Engineering Solutions to Resulting Company 2 effective from April 01, 2023.
Resulting Company 2 has further sold its Crane Division to Premier Heavy Lift Private Limited on a slump sale basis for a total consideration of approximate value of Rs 121 Crores, excluding working capital adjustments, subject to completion of conditions precedent and approvals of Shareholders besides other approvals as may be necessary from the regulatory/ statutory authorities. The Crane Division clocked a revenue of Rs 73.39 crores for the nine-month period ending 31 December 2022 and had a Net Worth of Rs 64.70 crores.
The Business Transfer Agreement between Resulting Company 2 and Premier Heavy Lift was signed on April 27, 2023.
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