Japan's SBS Group will acquire a controlling stake in domestic logistics firm Transpole Logistics for an undisclosed amount.
SBS Group provides various logistic functions and is a leading player in the land transportation segment.
The Japanese group would acquire little over 66 per cent stake in the firm, a Transpole spokesperson said without disclosing financial details.
As part of the deal with SBS, Transpole's two private equity investors - Everstone Capital and Fidelity - will exit the company.
"The founders will continue to hold their stake and will continue to be actively involved in the future growth of the company in India and around the world," Transpole group said in a statement.
"In one of the biggest deals in logistics sector, SBS group of Japan signs an agreement to form joint venture with Transpole Logistics by buying stake in the company," it added.
