Mumbai energy logistics giant eyes $1.5 bn UAE co
Mumbai-based Aegis Logistics, a major importer, storage and distribution firm for oil and gas, is reportedly in advanced talks to acquire Tristar, a UAE-based liquid logistics company. The deal is valued at $1.5 billion, according to sources familiar with the development. The acquisition could be one of the largest in the industry, considering the recent volatility caused by the Iran-US conflict.
Aegis, headquartered in Mumbai with a market capitalisation of Rs 45,156.15 crore ($4.75 billion), has been exploring financing options from European and Indian private sector lenders for the acquisition.
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