Gontermann-Peipers (India) Limited (BSE:504701) agreed to acquire Geetapuram Port Services Ltd. for INR 15.8 million on May 29, 2014. As per the terms, Gontermann-Peipers (India) Limited will allot 40 shares for every one share of Gontermann-Peipers (India) Limited. The new equity shares of Gontermann-Peipers (India) Limited, issued pursuant to this scheme shall be listed and/or admitted to trading on all the stock exchanges on which the shares of Gontermann-Peipers (India) Limited are listed. Geetapuram Port Services Ltd. recorded INR 384.77 million of total income, INR 384 million of operating profit and INR 89.31 million of net income for the year ended March 31, 2014. The Board of Directors of Gontermann-Peipers (India) Limited approved the acquisition on May 29, 2014. The scheme of amalgamation is approved by the Board of Directors of Gontermann-Peipers (India) Limited, after considering the recommendations of the Audit Committee, Report on Share Exchange Ratio and fairness opinion. The transaction is subject to approval by majority of the respective classes of members and/or creditors of each of Gontermann and Geetapuram, approval by shareholders of Gontermann-Peipers and approval by High Court of Calcutta and High Court of Bombay. The transaction which was subject to shareholder approval received the approval on March 28, 2015. As on December 22, 2015, the transaction is pending approval from Hon’ble High Court at Calcutta. G. P. Agarwal & Co. acted as valuer and SREI Capital Markets Limited acted as fairness opinion provider for Gontermann-Peipers (India) Limited. Gontermann-Peipers (India) Limited (BSE:504701) cancelled the acquisition of Geetapuram Port Services Ltd. on May 22, 2016.