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DP World is in talks with investors in Continental Warehousing Corp (Nhava Seva) such as US private equity giant Warburg Pincus, International Finance Corp (IFC) and Abraaj Capital to buy a controlling stake in one of the largest companies in the logistics sector in India, valuing it at around Rs 4,000-4,500 crore, said four people aware of the development.
The three together own 60% of the company, with Warburg the single-largest shareholder at 40.4%. Abraaj and IFC own 20% while the remaining 40% is held by N Amrutesh Reddy, executive director and promoter.
Continental Warehousing, the flagship company of Chennai-based NDR Group, owns and operates cargohandling facilities such as container freight stations (CFS), multimodal cargo handling terminals (MMTs) and private freight stations. It also provides express cargo and third-party logistics services.
Australia’s infrastructure-focused Macquarie Group is also believed to be in the fray. The deal, which may see interest from large logistics companies and financial investors as well, is expected to be concluded by the end of the fiscal year.
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