Business Daily from THE HINDU group of publications
Sunday, Aug 26, 2007
ePaper
Business Daily from THE HINDU group of publications Sunday, Aug 26, 2007 ePaper |
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Logistics
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Mergers & Acquisitions Gati acquiring 52.96% stake in Kausar India
Our Bureau Hyderabad, Aug. 25 Gati Ltd, a leading logistics company, has signed an agreement on Saturday for acquisition of 52.96 per cent equity stake in Kausar India Ltd, a Delhi-based company. The Hyderabad-based Gati would come out with an open offer as per the SEBI regulations, a company press release said here. Kausar India is a leading player in the fast growing refrigerated logistics business with a turnover of Rs 20 crore during the fiscal 2006-07. The equity value is around Rs 30 crore, according to sources. For Gati Ltd, the acquisition would mean an expansion of network, especially in refrigerated logistics. The present management of Kausar India would continue to run the business under the guidance and support of Gati across the country with back-up of quality services, the release said. Mr A.S. Sandhu, CFO, Gati, said, “We are delighted to acquire stake in Kausar India as it optimises the synergies between the two business entities and would also serve the long term objective of Gati to establish itself in the refrigerated logistics business.”
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