Tuesday, January 02, 2007

Allcargo to pay 89.1 mln rupees for Hindustan Cargo

Mumbai: Transport services provider Allcargo Global Logistics Ltd. is buying the air-cargo subsidiary of Thomas Cook (India) Ltd. for 89.1 mln rupees to expand its services mix, an Allcargo official said.
Hindustan Cargo Ltd., now wholly owned by Thomas Cook (India), would be made an independent airfreight services subsidiary of Allcargo, Chief Operating Officer Ashit Desai said on Tuesday.
The deal would be funded through internal accruals.
02/01/07 Reuters