Allcargo Inches Closer to Buying out Gati Promoters

September 26 , 2019

Allcargo LogisticsNSE 6.44 % is in the final rounds of discussions to pick up a controlling stake in express logistics company GatiNSE -2.21 %, two people in the know said on Wednesday. 

Gati’s promoter Mahendra Agarwal owned 14.38 per cent stake in the company as of June end, according to the latest available data from BSE. Of that, 63 per cent has been pledged against loans. 

Allcargo aims to buy the entire promoter stake, said one of the people cited above. After consummating the deal with the Gati promoters, Allcargo is likely to make an open offer to bolster its stake in the express logistics company. It wasn’t immediately clear how much it has valued Gati at. 
 

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