Allcargo Logistics eyes potential stake sale in ECU Worldwide

Cargo and air freight logistics firm ECU Worldwide is looking to raise funds and has appointed Jefferies Financial to evaluate options. ECU's Mumbai-based parent Allcargo Logistics is seeking a deal that would value ECU at about $1 billion. ECU worldwide offers cargo or container space on ships to customers across the globe. It has a nearly 40% market share in ocean freight consolidation in the Nordic region.