Allcargo Logistics in talks to acquire stake in rival Gati: Report

Allcargo Logistics is in talks to buy a stake in smaller rival Gati, people with knowledge of the matter said, as India’s biggest cargo company attempts to boost its presence across Asia’s third-largest economy.

Allcargo is in discussions to acquire Gati, that’s 6 per cent owned by Goldman Sachs Group, at an equity valuation of about Rs 13 billion ($183 million), one of the people said, asking not to be identified as the talks are private. The purchase will trigger a mandatory offer to buy Gati’s outstanding shares, the people said.

India’s logistics and warehousing industry is attracting companies from Blackstone Group