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.

Published on December 19, 2013

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