Adani’s plan to buy a majority stake in Snowman Logistics has hit a road block. The developments are quite interesting. Adani Logistics received a letter from Gateway Distriparks (owner of Snowman) in relation to a purported repudiation of the share purchase agreement. On 11 May, Snowman’s promoter, Gateway Distriparks, announced that the deal to sell promoter stake to Adani had been called off as the condition to complete the transaction by 31 March 2020 was not met by Adani group. ALL, a unit of Adani Ports, had signed a deal in Dec-19 to buy 40.25% promoter stake in Snowman, along with an open offer to take another 26%. The future of the deal is uncertain now.