Allcargo Logistics to sell Project Logistics Business division for Rs98.64 crore

31 Mar 2022 , 10:33 AM

Allcargo Logistics Ltd has informed to the exchanges that it has executed Business Transfer Agreement with J M Baxi Heavy Private Limited for Sale of Project Logistics Business division of the Company, as a going concern on a slump sale basis.

Further, the consideration mentioned in Business Transfer Agreement is Rs98.64 crore, said company in a regulatory filing.

At around 10:39 AM, Allcargo Logistics was trading at Rs358 apiece down by Rs0.4 or 0.11% from its previous closing of Rs358.40 apiece on the BSE.