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Allcargo Logistics Ltd said that its board has approved the purchase of 49 percent stake in its arm South Asia Terminals Private Ltd.
“The directors at their board meeting have inter alia approved the following subject to statutory and regulatory approvals, if any purchase of 49 percent stake held by Hind Terminals Pvt Ltd in the subsidiary of the company viz. South Asia Terminals Pvt Ltd,” Allcargo Logistics Ltd said in a filing to BSE.
The board also approved disposing of 100 per cent stake held by the company in Asia Line Ltd to Ecuhold N V (Dubai), the company said.
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