Allcargo to acquire 49% stake in its arm South Asia Terminals

Allcargo Logistics Ltd today said that its board has approved the purchase of 49 per cent stake in its arm South Asia Terminals Private Ltd.

"The directors at their board meeting held today i.e.

March 29, 2017 have inter alia approved the following subject to statutory and regulatory approvals, if any purchase of 49 per cent stake held by Hind Terminals Pvt Ltd in the subsidiary of the company viz. South Asia Terminals Pvt Ltd," Allcargo Logistics Ltd said in a filing to BSE.

The board also approved disposing of 100 per cent stake held by the company in Asia Line Ltd to Ecuhold N V (Dubai), the company said.

The board also approved "purchase of 100 per cent stake from Ecuhold N V held in Ecu International (Asia) Pvt Ltd,' it said.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)