India Glycols sells its stake in Kashipur Infrastructure and Freight Terminal

Kashipur Infrastructure and Freight Terminal Private Limited owns and operates a rail connected inland container depot (ICD) at Kashipur, Uttarakhand.

The Board of Directors of India Glycols Limited has considered and approved the execution of a Share Purchase Agreement (SPA) for sale of company's entire investment in equity shares in joint venture namely Kashipur Infrastructure and Freight Terminal Private Limited (JV Co) to Gateway Distriparks Limited.

Also, on and from the closing date as mentioned in the SPA, the existing shareholders and share subscription agreement dated 30th September 2014 entered into by and between the company, Apollo Logisolutions Limited, a JV partner and JV Co shall stand terminated.