AVG Logistics (NSE:AVG, BOM:543910) has completed the acquisition of a 99% majority stake in Kaizen Logistics for 4.9 million Indian rupees, according to a Wednesday filing to the Indian stock exchanges.
The acquisition of Kaizen Logistics is expected to help the company boost its operational capabilities and expand its presence in key sectors such as FMCG, beverages, metals, and industrial chemicals.
Shares of the company were up 5% in recent trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.