J M Baxi Heavy Pvt Ltd has signed a definitive agreement to acquire Allcargo Logistics Limited’s Project Forwarding & Logistics Business for Rs 98.64 crore, the company said in a statement.
It has also provided a binding offer to Lift and Shift India Private Limited (Lift and Shift), to acquire its heavy and over-dimension cargo logistics business, the statement added.
Lift and Shift has accepted the binding offer, which is subject to the execution of a definitive agreement for the business transfer between the parties. Both transactions are subject to completion, which is expected in the coming weeks.
Read more: VCCircle
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