CEVA Logistics to take controlling stake in Stellar Value Chain Solutions

Warburg Pincus-backed logistics firm Stellar Value Chain Solutions has signed a pact with France-based CEVA Logistics for selling controlling stake in the company. As part of the agreement, CEVA Logistics will acquire the entire stake of private equity firm Warburg Pincus. The move will help CEVA Logistics diversify its presence in India, boosting its local workforce, assets, customer roster and capabilities, Stellar value chain said in a statement. The acquisition is expected to be completed in the coming weeks, the company said without disclosing the deal size. Incorporated in 2016 by logistics veteran Anshuman Singh, Stellar Value Chain Solutions is into contract logistics with omni-channel fulfillment services in segments such as e-commerce, automotive, consumer, retail, healthcare and pharmaceuticals, among others. Post-acquisition, Stellar Value Chain Solutions will become a part of the third largest company in the world in contract logistics, the company said. Following th

from Companies https://ift.tt/9onjUzt
via IFTTT