Allcargo Logistics Ltd's subsidiary to acquire stake in Hong Kong firm

Allcargo Logistics Limited's wholly owned step down subsidiary viz, AGL N.V. has entered into a Share Purchase Agreement with Atlas Global Trading F.Z.C. (UAE) to acquire 100% stake in Asiapac Equity Investment Ltd (Hong Kong).

The Target Entity has a subsidiary Asiapac Turkey Tasimacilik A.S, which reported a revenue of $ 30.98 million and EBITDA of $ 1.07 million for the year January to December 2021. Estimated EBITDA for Year ending December 2022 is approximately $ 3.5 million.

The cost of acquisition or the price at which the shares are acquired will be $ 4.99 million.

Shares of Allcargo Logistics Limited was last trading in BSE at Rs. 402.80 as compared to the previous close of Rs. 406.10. The total number of shares traded during the day was 10910 in over 659 trades.

The stock hit an intraday high of Rs. 406.75 and intraday low of 399.50. The net turnover during the day was Rs. 4396574.00.

Source : Equity Bulls

Keywords

AllcargoLogistics INE418H01029 Acquisition AsiapacEquityInvestment