Apr 27, 2017: South Korea’s parcel delivery service company CJ Logistics Corp. has acquired a 50 percent stake in India’s logistics and transport company Darcl Logistics Ltd. for $50.6 million.
Through the deal, the Korean company is expected to strengthen its footprints in India to tap the burgeoning logistics demand in the Asian country.
CJ Logistics recently announced that it has agreed with Darcl Logistics to take over 11,931,071 shares or 50 percent stake in the Indian logistics and transport company, to become its largest shareholder.
Established in 1986, Darcl is India’s leading transport company that provides freight services specialized in delivering industrial materials like steel on top of consumer goods through its land and sea transport networks that stretch out to neighboring countries. It has about 3,000 employees working at its 210 branches located across India.