Allcargo Logistics’s wholly owned subsidiary viz, Allcargo Belgium N.V. (WOS) has entered into a Share Purchase Agreement with NBG Logistik Beteiligungs- und Beratungsges. mbH to acquire 75% stake in Fair Trade GmbH Schiffahrt, Handel und Logistik. The Shareholders Agreement would be signed in due course of time.
Fair Trade GmbH Schiffahrt, Handel und Logistik operates in FCL and LCL consolidation business in Germany. The company had turnover of approx. EUR 44 million in CY2021.
The company handles inbound and outbound freight to and from multiple destinations globally.
Cost of acquisition of 75% stake is approx. EUR 12 Mn, subject to finalization of accounts as on closing date.