In order to prune its debt, Hyderabad-based logistics company Gati will be actively exploring for joint venture partners for its subsidiaries, including its international businesses, once it finds a partner for its loss-making shipping business.
The company’s board had in February this year, approved the proposal to form joint venture (JV) with Japanese global logistic service major Kintetsu World Express (KWE) under the name Gati- Kintetsu Express.
As per the JV agreement, Gati will hold 70 percent stake and 30 percent stake will be held by KWE. As part of the transaction, Express Distribution and Supply Chain (EDSC) business of Gati will move into the JV company through a business transfer agreement.
Gati is a leading player in express distribution and logistics and operates through two divisions - Express Distribution & Supply Chain (EDSC) and Coast- to-Coast (C2C) division.
| Company Name | CMP |
|---|---|
| Allcargo Logistics | 9.67 |
| TVS Supply Chain Sol | 114.77 |
| Container Corp | 508.75 |
| Delhivery | 467.15 |
| Mahindra Logistics | 403.60 |
| View more.. | |
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