PSA buys into two Indian container terminals

According to a notice dated February 5th on the Bombay Stock Exchange website, PSA India has agreed to buy into two of ABG Infralogistics’ container terminals.

ABG has entered into an agreement to sell a 49% stake in its wholly owned subsidiary, ABG Kolkata Container Terminal, to PSA India.

Some reports put the value of the transaction at $37.9 million.

PSA India has also agreed to subscribe to Preference Shares in ABG Kandla Container Terminal.

Both deals are subject to the terms and conditions contained in the agreement as well as the necessary regulatory approvals.

PSA International paid around US$10.6 million to acquire a 15% stake in ABG Heavy Industries in 2006, which changed its name to ABG Infralogistics in 2007.