{
  "id": 14370437,
  "title": "Tristar Group signs agreement for Aegis Logistics to become majority shareholder",
  "url": "https://urgent.news/2026/10/14/tristar-group-signs-agreement-for-aegis-logistics-to-become-majority",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-14T04:15:52.000Z",
  "source": {
    "name": "Gulf News",
    "slug": "gulf-news",
    "url": "https://gulfnews.com/business/tristar-group-signs-agreement-for-aegis-logistics-to-become-majority-shareholder-1.500709771"
  },
  "original_language": "en",
  "account": "Dubai: Tristar Group has signed an agreement for Aegis Logistics, India's leading integrated oil, gas, and chemical logistics company, to become its majority shareholder. The transaction values Tristar at a total enterprise value of $1.5 billion, with an equity value of $882 million, at a multiple of approximately 6.0x on 2025 EBITDA. Eugene Mayne, Founding CEO of Tristar Group, expressed delight at welcoming Aegis Logistics to the Tristar shareholder base, highlighting their complementary strengths and shared ambitions. The deal marks a significant milestone in Tristar's growth journey, bolstering its $1.4 billion revenue base from FY 2025 and 25 years of industry expertise. The strategic alliance will merge Tristar's global storage and transportation capabilities with Aegis Logistics' extensive LPG and bulk liquid terminal infrastructure and distribution network in India. This partnership aims to unlock operational synergies, diversify service offerings, and accelerate growth across current and emerging markets. Aegis Logistics, with a legacy of six decades, is a leader in India's gas and energy logistics sector, providing end-to-end supply chain management for bulk liquids, petroleum, oil, and lubricants (POL), chemicals, and LPG. Tristar's Chairman and Managing Director, Raj Chandaria, emphasized the alliance's significance in expanding their global footprint and combining Aegis' deep logistics expertise with Tristar's world-class multimodal capabilities. Together, they are positioned to deliver greater value to customers and build a resilient global energy logistics network. This partnership will also strengthen Tristar's exposure to the LPG sector and establish a stronger presence in India. Over 23 years, Aegis Logistics has been India's top LPG importer and handler. Tristar, a Middle East leading global energy logistics provider since 1998, has grown under Agility Global's leadership since its entry as the largest shareholder in 2004. Tarek Sultan, Chairman of Agility Global PLC, praised Eugene Mayne and Tristar's operational excellence, crediting Agility's patient capital and active management for transforming Tristar into a world-class integrated energy logistics provider operating in 30+ countries. The partnership with Agility and Tristar's growth prospects were highlighted in a joint statement from both parties.",
  "summary": "Dubai: Tristar Group has entered into an agreement for Aegis Logistics, one of India’s leading integrated oil, gas and chemical logistics companies, to become its major shareholder, following a transaction that values Tristar at a total enterprise value of $1.5 billion (equity value of $882 million), at a multiple of ~6.0x on 2025 EBITDA. Eugene Mayne, Founder and Group CEO, Tristar Group said,…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}