Ascendas India Trust to acquire six warehouses in India for up to $112.5 mil

SINGAPORE (Nov 24): The trustee-manager of Ascendas India Trust (a-iTrust) is acquiring six warehouses from logistics and supply management service provider Arshiya for a total consideration of INR 5.34 billion ($112.5 million).  

This comprises an upfront payment of INR 4.34 billion ($91.4 million) and an additional deferred consideration of up to INR 1.0 billion ($21.1 million) to be paid over the next four years, linked to the achievement of certain performance milestones by Arshiya.

Located in Panvel, India, the warehouses have a total floor area of 0.8 million sf.

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