Dealstreet
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.