Gati all set to acquire Kausar

Mumbai: Hyderabad-based express logistics company Gati is set to acquire Kausar, a Delhi-based firm with a presence in the cold chain segment. According to sources close to the development, both companies are said to be in advanced level of talks and the acquisition is expected to be valued around Rs 35 crore.
At present, Gati does not have any presence in the movement of perishable cargo and this acquisition will mark Gati’s entry into the cold chain space. Kausar is listed on the Delhi Stock Exchange (DSE) but has not witnessed any trading activity in the past few months.
“We have definitely been looking around for acquisitions but there is nothing concrete as of now,” said Gati MD Mahendra Kumar Agarwal. When contacted by ET, Kausar India MD Sadeev Sandhu declined to comment on the deal. Sources said the modalities are being worked out by both the parties and the deal is expected to be announced shortly.
11/08/07 Ashish Kumar Mishra/Economic times

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Categories: Cargo Aug 2007