KKR has signed agreements to utilise company funds to make a majority investment in Indian bulk liquid and gas storage and logistics business Cisternina Logistics Private Limited.
The agreements include supporting Cisternina’s proposed acquisition of Ganesh Benzoplast Limited (GBL), a liquid storage terminal and rail buidness, which would then serve as the platform’s anchor asset. Other elements of the agreements include supporting expansion through further acquisitions and the development of new storage infrastructure across India.
Ravi Thanvi, director, Real Assets, KKR India, says, ‘At KKR, we have significant experience building and scaling infrastructure platforms in India, combining long-term capital with the operational expertise of strong management teams. We see an opportunity to apply this platform-building approach to India’s liquid and gas logistics sector. With an experienced founding team and GBL’s liquid storage terminal business as its anchor asset, Cisternina is well positioned to build a leading national platform. We look forward to working closely with Amit, Kartik and Puneet to realise that ambition.’
Amit Saboo, founder and managing director of Cisternina Logistics, comments, ‘We founded Cisternina to build an integrated liquid and gas storage and logistics platform that delivers high-quality, reliable solutions to customers across India. The acquisition of GBL’s liquid storage terminal business represents an important first step, providing us with an established operating base at strategic ports and a strong foundation for future growth. With KKR’s long-term capital, infrastructure and operational expertise, we look forward to investing in these assets, expanding our capabilities and building a differentiated platform for our customers.’
