TransIndia Realty & Logistics Parks to sell crane biz for Rs 121 crore ...Middle East

Business Standard - Economy
TransIndia Realty & Logistics Parks to sell crane biz for Rs 121 crore
source : Business Standard ( Middle East ) () 40
Allcargo Group firm TransIndia Realty & Logistics Parks on Wednesday announced that it has signed a pact with Premier Heavy Lift Pvt Ltd for selling its crane business to the latter for Rs 121 crore. TransIndia Realty & Logistics Parks Ltd, which specialises in developing and leasing industrial parks, demerged from Allcargo Logistics, and is in the process of becoming an independent listed entity. The demerger is part of Allcargo's restructuring plan. Allcargo Group has been divesting from non-core businesses and selling equipment business is part of this strategy, the company said. The sale of the crane business is on a going concern by way of a slump sale for a lump-sum cash consideration

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