GeoPost to buy 60 pc stake in Delhi-based Continental Air Express
Paris-based GeoPost Intercontinental is buying a 60pct stake in Continental Air Express for Euro 4, 00,000 through preferential allotment of equity. GeoPost, a Paris-based firm with a turnover of close to Euro 3,000 million in 2006, is engaged in B-2-B express parcel deliveries. The promoters of Continental Air Express – Vipin and Vaibhav Vohra- and GeoPost will invest an additional e 4 million in the ratio of their shareholding 40pct:60pct, respectively.
According to a recent E&Y study, India’s logistics market is pegged at USD 40 billion and is expected to grow at 15-20pct over the next 5 years. At present, only 25pct of the total logistics business is outsourced while the rest is handled by companies in-house.
Paris-based GeoPost Intercontinental is buying a 60pct stake in Continental Air Express for Euro 4, 00,000 through preferential allotment of equity. GeoPost, a Paris-based firm with a turnover of close to Euro 3,000 million in 2006, is engaged in B-2-B express parcel deliveries. The promoters of Continental Air Express – Vipin and Vaibhav Vohra- and GeoPost will invest an additional e 4 million in the ratio of their shareholding 40pct:60pct, respectively.
According to a recent E&Y study, India’s logistics market is pegged at USD 40 billion and is expected to grow at 15-20pct over the next 5 years. At present, only 25pct of the total logistics business is outsourced while the rest is handled by companies in-house.
