Gati acquires 26% stake in Kausar India

Logistics major Gati has acquired an additional 26.01 per cent stake in Kausar India, increasing its total stake in the company to 99.73 per cent.
The acquisition was done as on March 31, 2009, Gati informed the Bombay Stock Exchange today. The purchase of the equity was through an open offer reverse book building process and other Sebi norms

1.Broad Sector Themes

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Vision Corp to acquire stake in PIAL

MUMBAI: Vision Corporation, engaged in entertainment business, on Monday said it has decided to acquire 51 per cent stake in shipping and logistics company Pol India Agencies Ltd (PIAL).

A board meeting held on Friday decided to acquire 51 per cent equity stake in PIAL at a price yet to be mutually discussed and negotiated, the company said in a filing to the Bombay Stock Exchange.

PIAL is a shipping and Logistics out-fit, which is more than 50 years old, have been controlling and promoting shipping interests of Polish Ocean Lines from Middle-East to South East Asian sector and were handling both bulk and general cargoes project cargoes, container and passenger vessels in addition to doing stevedoring, clearing and forwarding as well as other related logistics activities.

The company also decided to make preferential allotment of equity shares to investors and convene an Extra Ordinary General Meeting (EGM) on September 12 to pass a Special Resolution to this effect.

Shares of the company were trading at Rs 13.68, up 4.99 per cent on the BSE.

(Source: Economic Times )

Apollo buys Seaport Container

The Apollo Tyres group, through its logistics arm Apollo International, has acquired the Mumbai-based container transport services company, Seaport Container Terminal, for an undisclosed amount. Apollo International, which is engaged in imports and exports of tyres and tubes, had recently announced its foray into logistics space.

Seaport Container Terminal is a leading transportation company operating as contractor for the rail PSU, Container Corporation of India (CONCOR), for the latter’s inland container depot (ICD) in Mulund, which mainly handles traffic from Jawaharlal Nehru Port Trust (JNPT).

Apollo International is positioning itself as 4PL (four-party logistics) player in the industry, offering complete logistics solutions under one-roof.

(Source: Business Standard)

Fidelity Investments to pick up 10 pc in TCIL

Fidelity Investments International today announced its decision to pick up 10 per cent stake in logistics company Transport Corporation of India (TCIL) for Rs 52 crores.

"With this, the FII's stake in the company would come close to 10 per cent of paid up equity. The development comes in the light of the company's plans to expand and consolidate its supply chain and logistics business, both nationally and globally," says a TCIL release.

TCIL will raise the money to part finance its capital expansion plans worth Rs 440 crores. The FII will pick up the stake at Rs 105.25 per share for a face value of Rs 2 each.

"Out of our total capex plan of Rs 440 crores, we would be spending Rs 340 crores over a period of three years, beginning 2007-08 for investment in warehousing, fleet upgradation and expansion, shipping and IT systems," it quoted TCIL Vice Chairman and MD D P Agarwal as saying.

TCIL has already invested Rs 100 crore in the last financial year and has plans to invest Rs 200 crores this fiscal, it added.

(Source: Economic Times)

Private equity firm buys 25% stake in Chennai Container Terminal

The Chennai-based Chettinad Group, owned by M. A. M. Ramaswamy, has sold 25% stake in Chennai Container Terminal Pvt. Ltd, the special purpose vehicle that operates and manages a one million twenty-foot equivalent unit (teu) capacity terminal at Chennai Port.

Global Infrastructure Partners, a private equity firm focused on global infrastructure asset investments, has agreed to acquire the stake in Chennai Container Terminal through its firm International Port Holdings.

Global Infrastructure Partners is a $1 billion (Rs4,100 core) private equity joint venture formed by investment bank Credit Suisse and US conglomerate General Electric Co. The world’s third biggest container port operator, Dubai-government owned DP World, owns a majority 75% stake in Chennai Container Terminal.

Chennai is India’s second biggest container port after Jawaharlal Nehru Port in Mumbai. It handled 8.81 lakh teus in the 12 months to March 2007 and is expected to close the current fiscal with a million teus. Since its opening in 2001, the traffic at Chennai container terminal has grown at 18.7% a year, making it the second fastest growing container terminal in India.

(Source: LiveMint)

Varun Shipping buys VLCC

Varun Shipping has acquired a Very Large Crude Carrier (VLCC), which is claimed to be India's largest LPG carrier. With this acquisition, Varun Shipping now owns nearly 80 per cent of the total LPG tonnage at present operating under Indian flag. The acquisition was financed partly out of the company's own resources and partly out of a long-term loan from ICICI Bank.

(Source: Business Line)

Temasek to pick up 28% stake in First Flight

Temasek is picking 27.74% equity stake in courier and express delivery firm First Flight in a deal worth Rs 107.5 crore. Mumbai-based First Flight, which is a public limited unlisted company promoted by the Saboo family, is the second largest domestic courier company with revenues of around Rs 300 crore. It is the largest domestic private equity deal in the courier and logistics space.