Desai Diwanji, AZB act on Indospace acquisition of majority stake in Dadri Toe Warehousing

Desai Diwanji, AZB act on Indospace acquisition of majority stake in Dadri Toe Warehousing

IndoSpace has a portfolio of over 41 million sq ft across 39 industrial and logistics parks under various stages of development in nine major consumption hubs in India.

IndoSpace, a developer of industrial and logistics parks, has entered into business with Model Economic Township Ltd, a subsidiary of Reliance Industries Ltd, by acquiring its majority stake in the warehousing company, Dadri Toe Warehousing Private Limited.

Model Economic Township Limited will continue to hold a minority stake in the warehousing company.

The two companies have jointly acquired 55 acres at Farukhnagar, in Haryana, to develop a warehousing facility.

Indospace was advised by Desai Dewanji, Gurgaon office with a team led by Partner Joebin Devassy, assisted by Partner Samidha Tyagi and Associates Garvita Mehrotra, Shivam Sachdeva and Neha Sahgal.

AZB & Partners, Delhi acted for Model Economic Township Limited.

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