ProConnect Acquires Auroma Logistics Private Limited
Deepthi | Myequity news | Date : 08-03-2019 15:15:00 IST
Redington (India) Limited’s wholly owned subsidiary, ProConnect Supply Chain Solutions Limited (ProConnect) had acquired 90% stake in Auroma Logistics Private Limited (ALPL) and proposed to acquire the remaining stake after 3 years at a pre-agreed formula. By virtue of aforesaid acquisition, the ALPL has become a subsidiary of ProConnect and step-down Subsidiary of the Company.
ALPL is into business of Warehousing and Logistics with majority of the business covering consumer durable goods segment. This investment in ALPL will enable ProConnect to expand its Supply Chain business in consumer durable segment resulting in bringing net new businesses.