Global investment firm KKR on Tuesday announced that it will make a majority investment in Cisternina Logistics Pvt Ltd, a company engaged in bulk liquid and gas storage and logistics in India.
The financial details of the proposed investment were not disclosed by KKR.
The investment will support Cisternina's proposed acquisition of the liquid storage terminal and rail business of Ganesh Benzoplast Limited (GBL). The business is expected to serve as the anchor asset for Cisternina's planned pan-India storage and logistics platform.
According to KKR, the platform will be expanded through additional acquisitions as well as the development of new storage infrastructure across different parts of the country.
The proposed investment is aimed at supporting the expansion of liquid storage and logistics infrastructure in India, with Cisternina focusing on building a nationwide platform for bulk liquid and gas storage.
The transaction and the proposed acquisition of GBL's business are subject to applicable regulatory and other approvals.
