Kerry Logistics to Increase Stake in Indev Logistics and will be re-named Kerry Indev Logistics

ACQUIRER

Kerry Logistics

ACQUIRER COMPANY TYPE

Unlisted

INDUSTRY (ACQUIRER)

Shipping & Logistics

 

CITY (ACQUIRER)

Kwai Chung

COUNTRY (ACQUIRER)

Hongkong

 

 

COMPANY

Indev Logistics

COMPANY TYPE

Unlisted

INDUSTRY

Shipping & Logistics

SECTOR

Logistics Services

CITY (TARGET)

Chennai

COUNTRY (TARGET)

India

 

 

Kerry Logistics Network Ltd., a logistics service provider in Asia, has increased its stake to 50 percent Chennai-based Indev Logistics Pvt. Ltd. Indev will be re-named Kerry Indev Logistics Pvt. Ltd. Kerry Logistics held 30 percent in Indev, is investing Rs.1,000 crore to build an information technology backbone, a chain of warehouses and cold storage facilities over the next two years.

Source: http://www.kerrylogistics.com/eng/OUR_COMPANY/Press/pressrelease/pressrelease_95.jsp