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Construction : Deals | September 2014 | Source : Construction Update

Apollo LogiSolutions buys majority stake in Dubai based Clarion Shipping

Logistics solutions provider, Apollo LogiSolutions Ltd (ALS) has acquired a majority stake in Dubai-based shipping logistics company Clarion Shipping Services LLC for over Rs 2,000 million. The equity value of the company is Rs 4000 million, said Raaja Kanwar, vice-chairman and managing director at Apollo International. The acquisition will help ALS access to over 20 countries in Clarion’s kitty taking its total geographical presence to over 100 countries. The company, which was founded in 1996 by NRI AniyanKutty, owns the single largest storage facility at the Jebel Ali Free Zone in Dubai, the UAE.
 
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