Arshiya’s arm executes non-binding term sheet with APFT
11th Feb 2019

Arshiya Northern FTWZ (ANFL), a wholly owned subsidiary of Arshiya, has executed a non-binding term sheet with Ascendas Property Fund Trustee (APFT/Investor), whereby APFT, in its capacity as the Trustee-Manager of Ascendas India Trust, has agreed, subject to the completion of due diligence, negotiation and agreement on the definitive documentation and fulfilment of the transaction conditions precedent, to acquire a warehouse (Leasable area : Approximately 1,90,000 square feet) owned by ANFL at its Free Trade & Warehousing Zone (FTWZ) located at Khurja, Uttar Pradesh (Khurja FTWZ).

The indicative gross consideration for the transaction is Rs 106 crore, of which a sum of Rs 23 crore will be received upfront and the balance sum of Rs 83 crore will be received in tranches, in next few quarters, upon achievement of certain performance milestones.

Arshiya International is engaged in providing end-to-end logistics and supply chain solutions to customers across the world.