NORTH EASTERN CARRYING CORPORATION LTD. (NECC) has entered into a Memorandum of Understanding (MOU) with S.G Logistic Management Private Limited (SGLM) to acquire upto 20% of shares/ securities for an aggregate Investment size of upto 20 crores.
The acquisition will be subject to necessary regulatory approvals and execution of definitive agreements.
NECC is a leading logistics and transportation company in India. SGLM is a leading provider of logistics and transportation services in India. The acquisition will help NECC expand its reach and presence in the logistics and transportation market.
The acquisition is expected to be completed by the end of the year.
Key highlights of the acquisition:
- NECC to acquire upto 20% stake in SGLM
- Aggregate Investment size of upto 20 crores
- Acquisition subject to regulatory approvals and execution of definitive agreements
- Acquisition expected to be completed by the end of the year
This is a significant development for both NECC and SGLM. The acquisition will create a strong player in the logistics and transportation market in India. It will also help NECC expand its reach and presence in the market.