Hyderabad: Global logistics group Deutsche Post DHL on Thursday announced the acquisition of about 24 per cent stake held by the Lemuir Group.
The acquisition is for an undisclosed sum.
With this, DHL's stake in the company has risen to 100 per cent, consolidating its position in the international freight forwarding, supply chain management and customs brokerage services in India.
Post-acquisition, the entity is being renamed as DHL Logistics Pvt Ltd, a company release said.
The Lemuir Group decided to sell its stake in the joint venture DHL Lemuir Logistics Pvt Ltd to DHL to focus on its core business of transportation of special cargoes.
05/04/12 Business Line
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