South Korea‘s largest logistics company, CJ Logistics, announced Wednesday plans to acquire a 50 percent stake in India’s Darcl Logistics to become the company’s largest shareholder.
CJ Logistics said it will acquire more than 11.9 million shares of Darcl Logistics at 57.06 billion won ($50.6 million), equivalent to roughly 2.08 percent of its consolidated capital last year.
(CJ Logistics)
Darcl Logistics is a comprehensive logistics company that conducts land, railway, maritime and heavy cargo transportation operations. The company is currently ranked No. 1 in the Indian transportation sector and No. 3 in general logistics.
In September last year CJ Logistics bought a 31.5 percent stake in Malaysia’s No. 2 logistics company, Century Logistics Holdings for 47.6 billion won to become the Malaysian firm’s largest shareholder.
By Julie Jackson (juliejackson@heraldcorp.com)