M&A
Aegis Logistics in talks to acquire UAE’s liquid logistics co. Tristar for $1.5 B
Mumbai-based Aegis Logistics is in talks to acquire the UAE-based liquid logistics company Tristar for USD 1.5 Billion. Aegis Logistics has initiated talks with various European and Indian private sector lenders to secure acquisition financing, which is expected to include a mix of debt and equity.Founded in 1998 by Eugene Mayne, Tristar is a liquid logistics firm that provides transportation and storage services to clients, including Abu Dhabi National Oil Company, Total, and Dow. The company operates across more than 30 countries.Aegis Logistics is an importer, storage, and distribution firm specialising in LPG and bulk liquids for petroleum, petrochemicals, and chemical products. The company manages infrastructure across ports, including Mumbai, Haldia, Pipavav, Kochi, Kandla, Mangalore, and JNPT. It operates through two primary divisions, with its gas business accounting for approximately 90% of its total revenue in the 2025 fiscal year.
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