Allcargo Logistics announces demerger of ECU Worldwide into separate listed entity

Open road with changes ahead

Sourced from dreamstime.com

By LoadstarEditorial

27/12/2023

PRESS RELEASE

Dec 22, 2023

Allcargo Logistics announces demerger of ECU Worldwide into separate listed entity

Publication: Live Mint

The restructuring started with selling its non-core assets, progressed to giving exits to its partners and acquiring their stakes in business and has culminated with this demerger. The Allcargo Group will now have four listed entities Allcargo ECU, Allcargo Logistics (that will include the express business after it acquired Gati) apart from Allcargo Terminals and Transindia Real Estate, in each of which its promoters own 70%.

(Stock up +12.2% to INR318.7 since the announcement)

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Topics

Allcargo Group Allcargo Logistics ECU Worldwide GATI J.M. Baxi Group Lift & Shift India

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