Allcargo Logistics completes acquisition of 30% stake in Gati subsidiary
June 09 , 2023
Source: Business Standard
Allcargo Logistics Ltd on Friday announced that it had completed the acquisition of 150,000 shares, or 30 per cent stake, in Gati-Kintetsu Express (GKEPL) for Rs 406.71 crore, the company said in a BSE filing.
Allcargo’s subsidiary, Gati already holds 70 per cent stake in GKEPL, which is a leading express logistics player in India.
Shashi Kiran Shetty, founder and chairman, Allcargo Group said, "The share purchase will offer Allcargo Logistics, along with its subsidiary Gati, full ownership and control and facilitate strategic decision-making in the company."
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