Mumbai: Allcargo Global Logistics Limited (AGL) has announced that it is to embark on a Scheme of Arrangement to acquire the projects and equipment division of Transindia Freight Services Private Limited (TFSPL). Both companies are part of the Transindia group (headquarters pictured).
The scheme will see AGL trade 518 of its fully paid-up equity shares for every 100 similar shares of TFSPL. Subject to statutory approvals, AGL will assume control of the division with effect from January 1, 2008.
TFSPL is primarily engaged in the business of contracting transportation of containers and project-related cargo, as well as hiring of cranes, reach stackers and forklift trucks. It is also involved in investments and car hire.
AGL has offices across 23 locations in India and an extensive international agency network. [15/10/07]
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