M&A

M&A

Logistics firm Gati to shut 2 more businesses

Business Standard  

After exiting the cold chain business, express distribution company Gati Ltd is now looking to exit from two more - trading solution and freight forwarding businesses. Gati would be closing down its Gati Import Export Trading Limited (GIETL) subsidiary which maintains the inventory for clients on its books. As per company's FY20 annual report, GIETL is 0.67 % of its consolidated net assets, which contributed a meager INR 6.19 million to the total profits. While the company is engaged in closing down the Gati Import Export Trading Ltd subsidiary, for its freight forwarding business, Gati Ltd is in search of a suitable buyer.