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Hot Pursuit

Scrips, which has significant changes during the market hours.

Allcargo Logistics arm acquires 25% stake in Fair Trade

23-May-24 08:38Hrs IST

Fair Trade is a FCL and LCL consolidation services provider, operating in Germany with offices in Bremen and Hamburg. Its turnover for 2023 was EUR 13,679,876.

Pursuant to acquisition of balance 25% stake in Fair Trade, ECU Worldwide N.V. now holds 100% stake in Fair Trade and is now a wholly owned subsidiary of the company.

The company has acquired Fair trade for expansion of FCL and LCL business in an important market with a synergistic and capable partner.

Earlier in November 2022, the company?s wholly owned subsidiary, ECU Worldwide N.V had acquired 75% stake in Fair Trade for total consideration of EUR 12 million.

Allcargo Logistics is an integrated logistics service provider and operates in multiple business segments ? multimodal transport operation (MTO), container freight station (CFS) / inland container depot (ICD), projects and engineering (P&E), contract logistics, and logistics parks (LPs) in which it has forayed recently.

The company?s consolidated net profit declined 92.4% to Rs 10.95 crore on 22.2% increase in net sales to Rs 3,211.59 crore in Q3 FY24 over Q3 FY23.

The scrip fell 0.72% to end at Rs 70.55 on Wednesday, 22 May 2024.

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