Fairfax India Holdings Mauritius Investments is investing ₹2 billion (US$30 million) to acquire a 51% stake in Saurashtra Freight. The transaction is expected to close by the end of March.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”3″ ihc_mb_template=”2″ ]
Saurashtra Freight will use the proceeds to acquire the container freight station (CFS) business from group company Saurashtra Infra and Power, and for future expansion. Saurashtra Infra runs the largest CFS at Mundra Port in Gujarat, the second-largest and fastest growing port in India. The CFS provides services such as moving containers to and from the port, stuffing/destuffing containers, cargo storage and transportation of cargo to the end customer, as well as storage, maintenance and repair of empty containers.
Rajani Associates advised Saurashtra Freight on the investment. The team comprised managing partner Prem Rajani, partner Poorvi Sanjanwala, principal associate Ankur Singhania and associate Kashmira Bakliwal.
AZB & Partners advised Fairfax. The team included partners Ashwin Ramanathan and Rishi Gautam along with senior associate Medha Marathe.
[/ihc-hide-content]
