Aegis Logistics to sell 40% stake in its Singapore subsidiary

To ITOCHU Petroleum for USD 5.85 million

Aegis Logistics announced that it will sell a 40% stake in its Singapore based wholly owned subsidiary, Aegis Group International to ITOCHU Petroleum Co. (Singapore), a wholly owned subsidiary of ITOCHU Corporation for a total consideration of USD 5.85 million.

Further, the Company's management proposes to establish a joint venture with ITOCHU Corporation to enable the Company to significantly expand and scale up its LPG division.

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