Aegis Logistics to acquire liquid tank terminals at Kandla Port

Aegis Logistics, through its 100% subsidiary, has signed definitive agreements to acquire assets pertaining to liquid tank terminals with capacity of ~500,000 KL at Kandla port from Friends Group for total outlay of ~Rs 265 crores. The transaction will be funded through a combination of internal accruals and debt.

This acquisition fits well with strategy of "necklace of terminals" which the Company has been executing since 2010. This transaction will strengthen Company's presence in six major ports across the country which handles ~75% of the total liquids traffic in India (for period Apr-Jan'22). Further, it will augment Aegis's presence in liquid terminal business at Kandla port which handles the highest Liquids and POL traffic in India.

The completion of transaction is subject to customary closing conditions and necessary approvals from port authorities and statutory authorities and is expected to close by June 2022.

Shares of Aegis Logistics Limited was last trading in BSE at Rs. 205.00 as compared to the previous close of Rs. 210.95. The total number of shares traded during the day was 131944 in over 2316 trades.

The stock hit an intraday high of Rs. 210.00 and intraday low of 203.45. The net turnover during the day was Rs. 27296715.00.

Source : Equity Bulls

Keywords

AegisLogistics INE208C01025 Acquisition LiquidTankTerminals FriendsGroup KandlaPort