Aegis Logistics shares rose 5% on October 14 a day after the company said it acquired 90% stake in Dubai's Tristar for $809 million.
"Aegis Logistics Limited via its step-down 100% subsidiary, Aegis Logistics International Pte Ltd, has entered into a definitive agreement under which Aegis proposes to acquire 89.8% of Tristar Holdings Limited from Agility Tristar Holdings Limited, Gulf Investment Corporation and Diamond Holdings Limited for an equity consideration of $809 million," said the company in a stock exchange filing.
At 9:50 am on October 14, Aegis Logistics shares climbed 5% to Rs 1,460.8 apiece.
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 incorporated in Dubai and has operations in 30+ countries globally. For fiscal year ended December 31, 2025, Tristar generated $1.4 billion of revenue, $257 million of EBITDA and $82 million of net profit on a consolidated basis.
Raj Chandaria, Chairman and Managing Director of Aegis Logistics, said: “The acquisition of Tristar will kick-off Aegis’ transformation from a domestically focused operator into an international energy logistics platform with significant global reach and expanded service offerings. The transaction will allow Aegis to benefit from greater scale, as well as business and geographic diversification. Furthermore, the acquisition will grant Aegis with access to an extensive network of blue-chip customers and premier industry partners within the Tristar ecosystem. The