Brief: Allcargo Logistics Gets SEBI Approval For Open Offer To Buy 26% Stake In Gati

Allcargo Gati

04/03/2020 11:28

March 4 (Reuters) - Allcargo Logistics Ltd  ACLL.NS :
    * GETS SEBI APPROVAL ON ITS OPEN OFFER TO ACQUIRE A 26%
STAKE IN
GATI AT 75 RUPEES A SHARE
    * ON FULL ACCEPTANCE OF THE OPEN OFFER IT WILL TAKE
ALLCARGO'S
STAKE IN GATI TO 46.83%
    * OPEN OFFER IS EXPECTED TO BE LAUNCHED IN MARCH 2020 AND
CLOSED
BY APRIL 2020.
    * TWO DIRECTORS OF ALLCARGO HAVE BEEN APPOINTED ON THE GATI
BOARD
    * ALREADY DEPOSITED 2.38 BILLION RUPEES EQUIVALENT TO 100%
OF
CAPITAL REQUIRED TO FUND OPEN OFFER

Source text: https://www.bseindia.com/xml-data/corpfiling/AttachLive/efa8080f-251d-4692-a48a-c31a5d99a318.pdf
Further company coverage:  ACLL.NS 

 ((Reuters.Briefs@thomsonreuters.com;))