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Ascendas India Trust to acquire Phase 2 warehouse in Navi Mumbai for $38.7 mil

Felicia Tan
Felicia Tan3/24/2022 07:57 AM GMT+08  • 2 min read
Ascendas India Trust to acquire Phase 2 warehouse in Navi Mumbai for $38.7 mil
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The manager of Ascendas India Trust (a-iTrust) has, through its wholly-owned subsidiary, Ascendas Property Fund (India) Pte Ltd (APFI), entered into definitive agreements for the proposed acquisition of the entire issued share capital of Anomalous Infra Private Limited.

Anomalous Infra Private Limited owns a warehouse with a total leasable area of 0.33 million sq ft, located at the Arshiya Free Trade Warehousing Zone, Panvel, Navi Mumbai.

The gross consideration for the warehouse is around 2.15 billion rupees ($38.7 million). The sum comprises an upfront payment of 1.94 billion rupees and an additional deferred consideration of up to 0.21 billion rupees. The additional deferred consideration is to be paid over the next four years, upon the achievement of certain performance milestones.

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