IHS Chemical Week

Services :: Transportation

Reliance Buys Stake in Logistics Company

4:13 AM MDT | April 16, 2010 | Deepti Ramesh

Reliance Industries says one of its wholly owned subsidiaries will invest in the logistics company Deccan 360 (Bangalore, India). Further details of the deal were not disclosed. According to Indian media reports, Reliance will acquire between 26% and 50% stake in Deccan 360 and will pay about $20 million-$30 million for the stake. Deccan 360’s air and surface transportation network supports the transportation needs of various industries such as pharmaceuticals, machinery, manufacturing, retail, electronics, textiles, and banking. The investment will help...

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