- 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.