Economy

Allcargo Logistics acquires controlling stake in Dutch firm

| Updated on: Dec 19, 2013

Allcargo Logistics Ltd has acquired a controlling stake in Netherlands-based logistics company FCL Marine Agencies Rotterdam for an undisclosed amount.

The acquisition was made through its wholly-owned subsidiary Ecuhold NV, the company said in a stock exchange notice.

The acquisition of FCL Marine is a step forward to consolidate Ecuhold's global leadership and cater to its customer’s request for a neutral customer full container load, it said in the statement.

Founded in 1988 in Rotterdam, FCL Marine is a non-vessel operating common carrier and has been operating as a full load carrier between the U.S. and Canada and other countries.

In September this year, Mumbai-based Allcargo Logistics - in which private equity major Blackstone holds a 14.4 per cent stake - acquired US-based logistics firm Econocaribe Consolidators for an undisclosed amount.

rajesh.kurup@thehindu.co.in

Published on December 19, 2013

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

COMMENTS
This article is closed for comments.
Please Email the Editor

You May Also Like

Recommended for you