Gateway Distriparks announced that the company has acquired 7.4 million equity shares of Rs 10 each in its subsidiary company, Snowman Logistics (SLL) from Nichirei Logistics Group for Rs 259 million.

Post this purchase of shares, SLL will continue to be the subsidiary of Gateway Distriparks; Gateway Distriparks' shareholding in SLL will increase to 54.19% and Nichirei Logistics Group Inc. will cease to be a shareholder of SLL.

Shares of the company gained Rs 3.6, or 2.46%, to trade at Rs 150.05. The total volume of shares traded was 18,064 at the BSE (12.09 p.m., Wednesday).