Aegis Logistics to acquire 89.8% stake in Dubai-based Tristar for ₹7700 crore
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Aegis Logistics Ltd signed a deal to acquire an 89.8 per cent stake in Dubai-based Tristar Holdings Ltd for $809 million, or ₹7,700 crore.
- ✓This move helps Aegis expand its energy logistics business globally.
- ✓Raj Chandaria said, "The acquisition of Tristar will kick-off Aegis' transformation into an international energy logistics platform."
Story at a Glance
- Category
- BUSINESS
- Reported By
- Business Line
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
Aegis Logistics Ltd has signed a definitive agreement to acquire an 89.8 per cent stake in Dubai-based Tristar Holdings Ltd for an equity consideration of $809 million.
Mumbai-based Aegis Logistics Ltd has signed a definitive agreement to acquire an 89.8 per cent stake in Dubai-based Tristar Holdings Ltd for an equity consideration of $809 million (around ₹7,700 crore), marking a major step in its plans to expand beyond India and build an international energy logistics platform.
The acquisition will be undertaken through Aegis Logistics International Pte Ltd, the company's wholly owned step-down subsidiary. The consideration includes contingent payments and interest on deferred consideration, Aegis said in a regulatory filing on Tuesday. Tristar is an integrated liquid logistics solutions provider with operations in more than 30 countries. Established in 1998, the company offers maritime logistics, road transportation, fuel storage and distribution, and aviation fuelling services.
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