June 10, 2023
3 min

Allcargo Logistics completes acquisition of 30% stake from KWE in ... - India Shipping News

- Allcargo Logistics has acquired a 30% stake in Gati-Kintetsu Express (GKEPL) for Rs 406.71 crore

- Allcargo's subsidiary, Gati, already held a 70% stake in GKEPL

- The deal included purchasing 26% of shares from KWE-Kintetsu World Express and 4% from KWE Kintetsu Express India

- Allcargo, along with Gati, now holds 100% stakes in GKEPL and assumes complete control

- This acquisition is in line with the company's strategy to focus on high growth opportunities in express and contract logistics businesses in India

- The move will also facilitate simplification of the corporate structure

- Allcargo has also bought out minority stake of its partner in the contract logistics business under Allcargo Supply Chain.

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Adhikansh Gupta
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Writer and editor who covers the latest trends and innovations in the software-as-a-service (SaaS) industry