Allcargo Logistics is all set to acquire additional 26% stake in Gati as it has received SEBI approval on its open offer to acquire approximately 3.17 crore shares at Rs 75 per share. On full acceptance of the open offer it will take Allcargo's stake in Gati to 46.83%. This will mark the completion of the acquisition process which was initiated on December 5, 2019. The open offer is expected to be launched in March 2020 and closed by April 2020. Preferential allotment and part purchase of promoter shares has also been completed by Allcargo in January 2020. As part of this process, two directors of Allcargo have been appointed on the Gati Board.
The acquisition will help to strengthen company’s domestic business. It will help to consolidate company’s position as the true end-to-end logistics solutions provider. It will create a lot of value by leveraging the express logistics business of Gati with company’s current logistics courier and parcel logistics (CPL) business.
Allcargo Logistics is an India-based holding Company. The company is engaged in providing integrated logistics solutions. It offers logistics services across multimodal transport operations, inland container depot, container freight station operations, contract logistics operations etc.
| Company Name | CMP |
|---|---|
| Allcargo Logistics | 9.58 |
| TVS Supply Chain Sol | 115.39 |
| Container Corp | 502.80 |
| Delhivery | 463.10 |
| Mahindra Logistics | 432.00 |
| View more.. | |
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