MOSL: ALLCARGO LOGISTICS (Buy)-Acquires controlling stake in GATI
Allcargo Logistics: Acquires controlling stake in GATI
(AGLL IN, Mkt Cap USD0.3b, CMP INR94, TP INR130, 38% Upside, Buy)
Allcargo Logistics (AGLL) at its board meeting on 5th Dec’19 approved a share purchase agreement (SPA) and a share subscription agreement (SSA) with some of the existing members of the promoter and promoter group of Gati Limited (GATI) to acquire 19.5% stake in the latter. It also approved an open offer for acquiring 26% of the paid-up voting equity share capital (post preferential issue and vesting of stock option) of GATI at a price of INR75/share (14% premium to closing share price).
Allcargo Logistics Limited is an India-based holding Company. The Company is engaged in providing integrated logistics solutions. It offers logistics services across multimodal transport operations, inland container depot, container freight station operations, contract logistics operations, and project and engineering solutions. Its segments include Multimodal Transport Operations, which involves non-vessel owning common carrier operations related to less than container load consolidation and full container load forwarding activities; Container Freight Stations (CFS)/Inland Container Depot (ICD) Operations, which is involved in import/export cargo stuffing, de-stuffing, customs clearance and other related ancillary services, and Project & Engineering Solutions (P&E), which provides integrated end-to-end project, engineering and logistic services through a fleet of owned/rented special equipment, such as hydraulic axles, cranes, trailers, barges, reach-stackers, forklifts and ships.
Motilal Oswal Financial Services Ltd. is a reputed name in Financial Services and Online Trading with group companies providing services such as Private Wealth Management, Retail Broking and Distribution, Institutional Broking, Asset Management, Investment Banking, Private Equity, Commodity Broking, Currency Broking, Principal Strategies & Home Finance.
Motilal Oswal Securities is a group company of Motilal Oswal Financial Service Limited which started as a stock trading company and has blossomed into well diversified firm offering a range of financial products and services. Motilal Oswal has built a reputation as the source for best stock trading company and this has taken a wealth of experience, knowledge and expertise, constantly working in tandem, over the years.
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