Hindustan Infralog Private Limited (HIPL) has announced the acquisition of a 90-per cent stake in Continental Warehousing Corporation (Nhava Seva)(CWCNSL), an integrated multimodal logistics player in India. CWCNSL’s founders, the Reddy family, will retain the remaining 10-per cent shareholding and will remain involved in the business operations. The purchase consideration is below 5 per cent of DP World’s net asset value as of financial year (FY) 2017 and it is the first investment of HIPL, the investment vehicle between DP World and NIIF to invest up to US$ 3 billion in ports, logistics and related sectors.
