Allcargo Group’s TransIndia sells equipment rental business to Premier Heavy Lift
May 10 , 2023
Source: Moneycontrol
TransIndia Realty & Logistics Parks Limited, a demerged unit of Allcargo Logistics Limited that specialises in industrial and logistics parks development and leasing, announced on May 10 a strategic agreement to transfer its crane business to Premier Heavy Lift Private Limited.
According to an official statement, TransIndia made this transaction through a slump sale for Rs 121 crore in cash, excluding working capital adjustments as per Business Transfer Agreement.
The sale, which includes provisions for working capital adjustments, aims to ensure a seamless business transfer, uninterrupted client service, and smooth employee integration. The transaction is slated to be completed on or before June 30.
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