Adani Logistics has announced that it would acquire Innovative B2B Logistics Solutions from private equity firm True North for an enterprise value of ₹331 crore. The transaction will be an all-cash deal and is expected to be completed by Q1 FY19-20. Adani will acquire 97.03 per cent of shares from True North and its affiliates, and balance shares consisting of up to 2.97 per cent will be held by other shareholders. Innovative B2B Logistics Solutions provides integrated logistics services for domestic cargo movement and is considered to be a prominent operator with circuits connecting eastern and northern hinterland. The acquisition enables Adani to expand its total addressable market, enhance network coverage, and create a value chain to handle the dry cargo segment.