M&A
South Korea’s CJ Logistics infuses $32-M to raise stake in CJ Darcl Logistics to 56%
Seoul, Korea-based CJ Logistics Corporation has infused USD 32 million as a combination of primary and secondary transaction into Gurugram-based CJ Darcl Logistics Ltd . With this, it has increased its stake in CJ Darcl to 56 per cent from 50 per cent.The primary funds will be used to expand infrastructure spanning terminals, advanced warehousing, digital supply chain solutions and alternative fuel platforms and to expand its rail network. The company also plans to expand its footprint in the warehouse space with two large facilities - the north and the west.Founded in 1975, CJ Darcl Logistics offers transport and logistics solutions to private and public sector enterprises through trucks, trailers, pullers, tippers, loaders, dumpers, hydraulic axles and rail and has a presence across 200 branches and serves over 2,000 customers.
In Jan 2017, CJ Logistics had acquired a 50% stake in Darcl Logistics for USD 51 M.
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