CCI Integrated Logistics to be purchased by Allcargo
Mumbai-based logistics company Allcargo has planned to buy out the contract logistics business of its joint venture partner CCI Integrated Logistics and sell it the customs clearance segment, as a means of consolidating its business. Allcargo had bought a controlling stake in CCI in 2016 and subsequently formed the joint venture Avvashya CCI. It now holds slightly over 61 percent and will buy the remaining 38.87 percent stake from its partners for Rs 145 crore.
Firm said its is one step in ultimately restructuring its overall businesses into four separate entities.
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