Thomas Cook to Sell Hindustan Cargo Ltd to All Cargo Logistics Ltd

Thomas Cook India Ltd has announced that the Board of Directors of the Company has finalised its decision to divest its wholly owned subsidiary Hindustan Cargo Ltd (HCL), a company headquartered in Chennai since 1994. HCL is into Airfreight and logistic business. The Company proposes to divest the entire shareholding of HCL to Allcargo Global Logistics Ltd.

Established in 1993, Allcargo has emerged as a leading Logistics service provider today. In just 13 years of its existence, Allcargo has entrenched itself well, not only on the Indian logistics scene, but also at a global level achieving a global footprint through the acquisition of the Belgium based ECU Hold NV. Allcargo has always been the leading LCL (Less than a Container Load) consolidator in India offering direct outbound and inbound LCL groupage services to and from major cargo destinations worldwide.

Source : Equity Bulls

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