Ascendas India Trust signs definitive agreements for the proposed acquisition of warehouse at the Arshiya Free Trade Warehousing Zone, Navi Mumbai
The gross acquisition consideration for this seventh warehouse is approximately INR2.15 billion (S$38.7 million). It comprises an upfront payment of INR1.94 billion (S$34.9 million) and an additional deferred consideration of up to INR0.21 billion (S$3.8 million) to be paid over the next four years, upon achievement of certain performance milestones.
Mr. Sanjeev Dasgupta, Chief Executive Officer of the Trustee-Manager said, The acquisition enables a-iTrust to further expand its presence in the logistics sector. Given the unique benefits offered by the FTWZ logistics segment, we are seeing growing demand in this space and this acquisition puts us in a good position to capitalise on this growth.
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