Shapoorji's $1.2 bn deal with ADIA on hold over debt issues, coronavirus

Shapoorji Pallonji Group has kept its ambitious logistics venture with Abu Dhabi Investment Authority (ADIA) on the back burner on account of debt issues and the pandemic, said people in the know. The group had planned to launch a $1.2-billion venture with ADIA, wherein the partners were to raise the money in two tranches of $600 million each. The venture was to invest in logistics centres in the country.  “Shapoorji was to put in $100 million, and the ADIA $500 million, initially,” the people said, adding that Shapoorji was already looking for land parcels. Shapoo.....

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