JSW Port Logistics to buy JSW group rail units

JSW Port Logistics (JSWPLPL), a wholly owned subsidiary of JSW Infrastructure, has informed the exchanges that it has entered into a share purchase agreement with JSW Shipping & Logistics (JSWSLPL). Under this agreement, JSWPLPL will acquire 100% of the equity share capital of JSW Rail Infra Logistics (JSW Rail), JSW Minerals Rail Logistics (JSW Minerals) and JSW (South) Rail Logistics (JSW South). These three entities, JSW Rail, JSW Minerals and JSW South, are the target companies, and the acquisition will be made from JSWSLPL. The total cost of acquisition is `1,212 crore. Once the transaction is completed, JSW Rail, JSW Minerals and JSW South will become step-down wholly owned subsidiaries of JSW Infrastructure. The acquisition is subject to approval from the Ministry of Railways, the company said in its exchange filing, as per a report.

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