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Gati in talks with foreign firm for strategic pact

Gati in talks with foreign firm for strategic pact
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First Published: Wed, Feb 09 2011. 01 29 PM IST
Updated: Wed, Feb 09 2011. 01 29 PM IST
Mumbai: Logistics firm Gati Ltd is in talks with an international player to form a strategic partnership in its shipping business, managing director Mahendra Agarwal told news channel ET NOW on Wednesday.
“An international company has been identified with whom we are talking for a strategic partnership in the shipping business,” Agarwal said.
“This will have a two-fold advantage. It will bring great amount of value in terms of the topline and bottomline for the shipping business. It will also unlock the value for the shareholders of Gati,” he told the channel.
The company has hired a consultant to advise it on restructuring of its business, he said without naming the firm.
At 1:12 pm Gati shares were trading down 0.69% at Rs57.35 in a weak Mumbai stock market.
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First Published: Wed, Feb 09 2011. 01 29 PM IST
More Topics: Gati | Shipping | Logistics | Shares | Corporate News |