Aegis Logistics shares in focus after firm acquires 90% stake worth $809 million in Tristar Holdings
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- ✓Aegis Logistics shares will be in focus on Wednesday after the firm agreed to acquire an 89.9% stake in Tristar Holdings for $809 million.
- ✓Chairman Raj Chandaria said, "The transaction will allow Aegis to benefit from greater scale, as well as business and geographic diversification." The deal awaits regulatory approvals.
Story at a Glance
- Category
- BUSINESS
- Reported By
- The Economic Times
- Reading Speed
- 4 Minute(s)
- Market Focus
- India Economy
Shares of Aegis Logistics will be in focus on Wednesday after the company agreed to acquire an 89.9% stake in Tristar Holdings for an equity consideration of $809 million through its step-down subsidiary.
In an exchange filing on Tuesday, Aegis Logistics said its wholly owned step-down subsidiary, Aegis Logistics International Pte, had signed a definitive agreement to acquire the stake from Agility Tristar Holdings Ltd., Gulf Investment Corporation and Diamond Holdings Ltd.
The proposed acquisition is subject to regulatory approvals and is expected to be completed in the fourth quarter of the current fiscal year. Established in 1998, Tristar is an integrated liquid logistics solutions provider offering end-to-end services across maritime logistics, fuel tank storage, road transport, aviation fuelling and fuel distribution. Incorporated in Dubai, the company operates in more than 30 countries globally.
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The Economic Times
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