PSA India Intermodal Pte. Ltd has acquired a 50% stake in Indian logistics hub Ameya Logistics Pvt. Ltd (ALPL) from CMA CGM SA, a French container transportation and shipping company, according to a report.
Marseille-headquartered CMA CGM is selling the stake in Ameya for $93 million (approximately Rs 663.74 crore at current exchange rates), The Hindu Business Line reported. The deal is expected to close by the first quarter of next year.
Ameya runs a container freight station (CFS) near Jawaharlal Nehru Port Trust, which is India’s busiest container gateway. The firm, in turn, held a 51% stake in CMA CGM Logistics Park Dadri, which is in Greater Noida. Container Corporation of India Ltd. held the balance stake.
Ameya also held a 55% stake in Honeycomb Logistics Pvt. Ltd, which runs a CFS in Gujarat’s Mundra. PSA’s acquisition of the stake in Ameya will also help it get stakes in the two companies mentioned above, according to the report.
VCCircle has reached out to both PSA and CMA CGM on the reported stake acquisition and will update this report accordingly.
PSA International, a unit of the Singapore-based PSA International Pte. Ltd, is fully owned by Temasek Holdings Pte. Ltd, the sovereign wealth fund of Singapore. The group runs container handling facilities at JNPT, VO Chidambaranar Port Trust, and Chennai Port Trust, among others.
Meanwhile, CMA offers logistics solutions in 32 countries, including air freight, multimodal transport, customs clearance, warehousing and distribution amongst others.
