Dachser GmbH & Co. KG, a German shipping and logistics services provider, has acquired remaining 50 per cent stake in Dachser India Pvt Ltd from its local JV partner AFL Group. This was a part of a larger deal which also saw it acquiring AFL's stake in a separate JV in Thailand and majority stake in another venture in Bangladesh.
Dachser had been working with AFL since 1996 which evolved into a strategic partnership and a JV in 2007. The two partners had also established additional country organisations in Bangladesh and Thailand.
In the transaction, which was completed in August, Dachser acquired all of the shares in India and Thailand owned by Indglobal, an affiliated company of AFL, and a majority of its shares in Bangladesh.
The deal amount remained undisclosed.
Founded in 1994, Mumbai-based Dachser India (formerly known as AFL Dachser Pvt Ltd) provides air freight, sea freight, charters, project movements, customs clearance, consultancy services, food logistics, infrastructure for contract logistics, transport and warehousing.
Cyrus Guzder-led AFL had sold bulk of its logistics business to FedEx four years ago.
J Sagar Associates (JSA) advised Dachser on this deal while AFL Group was represented by AZB & Partners.
(Edited by Joby Puthuparampil Johnson)