Gateway Distriparks (GDL) on Monday, April 1, said it has completed the acquisition of the entire stake held by the private equity Blackstone, in its subsidiary Gateway Rail Freight (GatewayRail) for ₹850 crore.
GDL has also acquired shares from the management of GatewayRail and with this GDL shareholding in GatewayRail is now 99.93 percent, on a fully diluted basis, the company statement said.
“Blackstone, GDL and GatewayRail have mutually agreed to terminate the arbitration proceedings initiated in December 2018. This buy out completes Blackstone’s exit from its investment in GatewayRail,” it said.
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