Mumbai, Nov 4 (BVI) As part of this strategic restructuring, Allcargo Logistics has demerged its International Supply Chain (ISC) business into a newly-incorporated entity Allcargo Global Limited.
Following the demerger, the domestic express distribution and consultative logistics businesses will be merged into the resulting Allcargo Logistics Limited, aligning operations for enhanced synergy and value creation, the company said in a statement.
The Board of Directors has approved the Record Date of the transaction as 12th November, basis which the share of Allcargo Logistics Limited will trade ex-international business.
The merger will give effect to the consolidation of the domestic express business (currently under Allcargo Gati and GESCPL) and the consultative logistics business (currently under ASCPL) into the resulting entity.
The listing of Allcargo Global Limited shall follow necessary approvals and regulatory processes.
This restructuring marks a significant milestone in Allcargo Logistics’ journey to create value for all stakeholders and sharpen strategic focus across its global and domestic businesses.
Allcargo Logistics Limited is India’s largest integrated, end-to-end logistics solutions provider, which will now have its International business demerged under Allcargo Global and Domestic business that houses express distribution and consultative logistics consolidated under Allcargo Logistics Limited. (BVI)
