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Allcargo expects to be debt-free with Blackstone deal closure by Dec

The partnership will help Allcargo's growing third-party logistics business into which it had invested around Rs 1,000 crore

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3 min read Last Updated : Jun 14 2020 | 8:10 PM IST

Allcargo Logistics, the largest private sector player in the segment, expects to be debt-free by December when it will conclude the sale of its warehousing unit to private equity major Blackstone.

Allcargo Group Chairman Shashi Kiran Shetty also expects a brighter future for its Hyderabad-based subsidiary Gati that it had bought last December, by way of a tax writeback of around Rs 80 crore through the ongoing dispute settlement forum called the 'Vivad se Vishwas' scheme, and thus to close the financial year with a fatty bottomline.

In January, Blackstone announced that it would buy 90 per cent equity in Allcargo's warehousing

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