GDL Group Merger & Amalgamation Process on track

GDL Group Merger & Amalgamation Process
Gateway Distriparks (GDL) had notified an amalgamation scheme between GDL and its subsidiaries Gateway Rail Freight and Gateway East India in September 2020. Now, both NSE and BSE have given their “No-objection” for the Company to file the draft scheme with the National Company Law Tribunal (NCLT). The Company, Gateway Rail Freight Limited and Gateway East India have filed the Joint Company Application in relation to the Scheme with NCLT to begin the next step of the process.

Prem Kishan Gupta, Chairman & MD believes that this has brought the company closer to completing the amalgamation process. He added, “The process will result in enhancing value for our shareholders due to greater operational synergies and efficiencies, and we will be able to offer our customers a wider range of locations and services in a single platform.”

The merged entity will entail 4 rail-linked inland container depots for EXIM business, a domestic rail terminal in Navi Mumbai, 6 container freight stations spread across the country, and a combined fleet strength of 31 train sets and over 500 road trailers. The combined cash flows will enable the merged entity to accelerate debt reduction while at the same time allowing it to continue upon its expansion schemes to construct a wider network of rail terminals to further expand along the Western Dedicated Freight Corridor.
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