JSW Infrastructure has recently signed a deal to acquire a 70.37 per cent stake in Navkar Corporation for Rs 10.12 billion. Navkar Corporation owns container freight stations and operates inland container depots. It has its infrastructure present near the Nhava Sheva Port or Jawaharlal Nehru Port in Navi Mumbai.
As per reports, an open offer will be made to the rest of the shareholders of Navkar Corporation, in line with the markets regulator Securities and Exchange Board of India (SEBI’s) takeover code. The open offer will cost an additional amount of Rs 4.2 billion.
The acquisition will result in the JSW Infrastructure’s foray into logistics and other value-added services. Additionally, it will facilitate the business to offer improved port connectivity and streamlined supply chain solutions to its customers.