Allcargo Logistics Limited (BSE:532749) agreed to acquire 30% stake in Gati-Kintetsu Express Private Limited from KWE-Kintetsu World Express (S) Pte Ltd., and KWE Kintetsu Express (India) Private Limited for INR 4.1 billion on November 9, 2022. Allcargo Logistics entered into a Share Purchase Agreement to acquire 30% stake in Gati-Kintetsu Express Private Limited from KWE-Kintetsu World Express (S) Pte Ltd., and KWE Kintetsu Express (India) Private Limited on March 27, 2023. Under the agreement, Allcargo will acquire 1,50,000 shares of Gati-Kintetsu Express Private Limited, comprising of 1,30,000 equity shares, representing 26% stake from KWE-Kintetsu World Express (S) Pte Ltd and 20,000 shares, representing 4% stake from KWE Kintetsu Express (India) Private Limited. Kintetsu World Express, Inc. and Allcargo Board have approved the acquisition. The transfer of shares is contemplated between between November 2022 and March 2023. Ambit acted as exclusive financial advisor to Allcargo Logistics Ltd.

Allcargo Logistics Limited (BSE:532749) completed the acquisition of a 30% stake in Gati-Kintetsu Express Private Limited from KWE-Kintetsu World Express (S) Pte Ltd., and KWE Kintetsu Express (India) Private Limited on June 8, 2023..With completion of this transaction as on date, Allcargo Logistics Limited holds 30% stake and Gati Limited holds the existing 70% stake in Gati-Kintetsu Express Private Limited. Rajat Mukherjee, Sarthak Sarin, Eklavya Malvai and Utsav Lohia of Khaitan & Co. acted as a legal advisor for Kintetsu World Express (India) Pvt. Ltd.