Aegis Logistics has received approval to sell entire equity holding of 1,00,000 equity shares of Rs 10 each of Konkan Storage Systems (Kochi) (KCPL), wholly owned subsidiary of the Company to its other wholly owned subsidiary, Aegis Vopak Terminals (AVTL) at fair value of Rs 18.5 per equity share aggregating to Rs 18,50,000.
Pursuant to the aforesaid transaction, KCPL will cease to be a direct wholly owned subsidiary of the Company and will become a step-down subsidiary of the Company. The transaction will be completed on or before March 31, 2022. The Board of Directors of the Company in its meeting held on January 17, 2022 has approved the same.
Aegis is India’s leading oil, gas and chemical logistics company. The company has five distinct but related business segments, and operates a network of bulk liquid terminals, liquefied petroleum gas (LPG) terminals, filling plants, pipelines, and gas stations to deliver products and services.
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