Oil and gas logistics provider Aegis Logistics today said it has acquired Shell Gas (LPG) India, pursuant to which the latter has become the subsidiary of the company.
Aegis Logistics, in a filing to the Bombay Stock Exchange (BSE), said it has completed the acquisition of 3.23 crore equity shares of Shell Gas (LPG) India.
It, however, did not disclose the financial details of the transaction.
The company, on December 31, had entered into a share purchase agreement with Shell Gas (LPG) India to acquire it.
Shell Gas (LPG) India Pvt Ltd has a gas infrastructure facility at Pipavav Port and a LPG filling plant in Gujarat. The company also carries out business of import and marketing of wholesale LPG.
Aegis Logistics provides supply chain management services to the Indian petroleum and chemical industry by storing, moving and distributing petroleum and chemical products to the end user.
Shares of Aegis Logistics were trading at Rs 222.85 on the BSE, up 3.08 per cent from previous close.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app