Aegis Logistics acquires Shell Gas India

Aegis Logistics acquires Shell Gas India

Mumbai: Oil and gas logistics provider Aegis Logistics Monday said it has acquired Shell Gas (LPG) India, pursuant to which the latter has become the subsidiary of the company.

Aegis Logistics, in a filing to the Bombay Stock Exchange (BSE), said it has completed the acquisition of 3.23 crore equity shares of Shell Gas (LPG) India.

It, however, did not disclose the financial details of the transaction.

The company, on 31 December had entered into a share purchase agreement with Shell Gas (LPG) India to acquire it.

Shell Gas (LPG) India Pvt Ltd has a gas infrastructure facility at Pipavav Port and a LPG filling plant in Gujarat. The company also carries out business of import and marketing of wholesale LPG.

Aegis Logistics provides supply chain management services to the Indian petroleum and chemical industry by storing, moving and distributing petroleum and chemical products to the end user.

Shares of Aegis Logistics were trading at Rs222.85 on the BSE, up 3.08% from previous close.