Transaction Closure: Open Offer to the Shareholders of Sical Logistics Limited (“Target Company”)

Open offer was made by Tanglin Retail Reality Developments Private Limited (“Acquirer”) along with Tanglin Developments Limited (“PAC”). The Open Offer was for acquisition of 1,17,07,608 fully paid up equity shares of Target Company representing 20% of the Emerging Voting Share Capital at a price of Rs. 79.50 plus interest of Rs. 4.56 per equity share calculated at the rate of 10% p.a. from the scheduled date of payment of consideration till the latest date of payment of consideration. The Open Offer closed on August 24, 2011.

The Acquirer acquired the entire 1,17,07,608 equity shares from the shareholders for a total consideration of Rs. 984.14 million.

Target Company is currently engaged in the business of providing integrated multimodal logistics services having presence in almost all major, minor and intermediary ports including development of port infrastructure, container train operations, container freight stations, rail terminals and road logistics. The main activities are stevedoring, port handling, shipping agency, custom house agency, trucking and terminal management.

The Acquirer & PAC are part of Coffee Day Resorts Private Limited. The Acquirer is engaged in the business of property developments and leasing the same to retail outlets and the PAC is in the business of development of IT parks and special economic zones.

The Acquirer has acquired shares in the Target Company to diversify into the logistics business.

Edelweiss Financial Services Limited acted as Manager for this Open Offer.