LINK LEGAL represented GMR Hyderabad Aerotropolis Limited (“GHAL”), in setting up a 30:70 joint venture company in India, GMR Logistics Park Private Limited (“JV Company”) with ESR Hyderabad 1 Pte. Limited, a Singapore based entity (“ESR”).
ESR, a Warburg Pincus-backed logistics developer, is engaged in the business of promoting, developing, operating and managing warehouses and industrial and logistics parks to cater to requirements of its clients.
GHAL and ESR set up the JV Company to jointly develop, construct and operate a 66-acre flagship airport centric integrated logistics and industrial park at Hyderabad airport city providing state-of-the-art facilities for warehousing, distribution centers and non-polluting industrial such as light assembly. The said project has a capital outlay of INR 550 crore. This joint venture will set new standards for the warehousing and industrial real estate sector and would also benefit the burgeoning cargo industry in the region.
Link Legal team comprising of Yosham Vardhan, Associate Partner, Ankit Agarwal, Senior Associate and Neil Lopez, Associate assisted and advised GHAL in drafting, negotiations and finalization of the joint venture agreement, other ancillary agreements and closing of the transaction. Ravi Varma, Partner, Link Legal advised on the real estate aspects of the transaction.