Aegis Logistics Limited via its step-down 100 percent subsidiary, Aegis Logistics International Pte Ltd, has entered into a definitive agreement to acquire 89.8 per cent stake of Tristar Holdings Limited from Agility Tristar Holdings Limited, Gulf Investment Corporation and Diamond Holdings Limited for an equity consideration of $809 million (including contingent and interest for deferred consideration).
The transaction is arguably the biggest sole buyout of an asset in the Middle East corridor by an Indian firm, sources told Moneycontrol.
Aegis Logistics, a listed Indian company providing sourcing, storage, distribution, storage and third-party logistics services in the oil, gas, and chemicals sector, made the announcement in a late evening stock exchange disclosure on October 13.
Established in 1998, Tristar is an integrated liquid logistics solutions provider offering end-to-end liquid logistics services including maritime logistics, road transport, fuel tank storage, fuel distribution and aviation fueling.
Tristar is based in Dubai and has operations in 30+ countries globally. For the fiscal that ended December 31, 2025, Tristar generated $1.4 billion revenue, $257 million of EBITDA and $82 million of net profit on a consolidated basis.