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Aegis Logistics to acquire 100% of Konkan Storage Systems (Kochi) Pvt Ltd
Posted On : 2007-03-26 03:40:40( TIMEZONE : IST )
Aegis Logistics Ltd has announced that the Board of Directors of the Company at its meeting held on March 26, 2007, has approved acquisition of 100% of the issued and paid up equity share capital of Konkan Storage Systems (Kochi) Pvt Ltd ("KCPL") having asset block of Rs 2600 lacs of Logistics Infrastructure (51000 KL) at Kochi Port. Pursuant to this the KCPL would become wholly owned subsidiary of the Company.
Further the Company has informed that the Company has also approved granting of loan / guarantee for an amount not exceeding Rs 2500 lacs to KCPL for the purpose of paying off KCPL's liabilities and incurring modernization / debottlenecking expenses.
