Business
2019 May 23 Thu, 04:54:25 pm

HIPL acquires 76% stake in Kribhco Infrastructure Limited in India

DUBAI, 23rd May, 2019 (WAM) -- Hindustan Infralog Private Limited, HIPL, a joint venture between DP World and the National Investment and Infrastructure Fund in India, has announced the acquisition of a 76 percent stake in Kribhco Infrastructure Limited, an integrated multi-modal logistics operator in India. The acquisition was made through its 90 percent owned subsidiary, Continental Warehousing Corporation (Nhava Seva) Limited. Kribhco will continue to retain the remaining 24 percent shareholding. The purchase consideration is below one percent of DP World’s net asset value...