Khaitan advises Itochu’s Singapore subsidiary on buy of Aegis Logistics’ LPG terminal arm for $38m – Feedback

Itochu Petroleum Co, the Singapore-based subsidiary of Japanese trading company Itochu Corporation has announced the acquisition of 19.7% stake in Aegis Logistics’ wholly-owned subsidiary, Hindustan Aegis LPG (HALPG), for INR 239 crores (apporximately $37.8m), with an option to subscribe to equity shares aggregating to 25%, as reported by Business Standard and VC Circle in May of last year. In addition to India, Itochu Corporation, the Japanese multinational trading group specialising in oil & gas, metals and other commodities, operates LPG import hubs in Japan and the Philippines.

Khaitan & Co advised Itochu Petroleum (Singapore) and was led by partner Gahan Singh, principal associate Anuj Sahay, senior associates Jhinook Roy and Prateek Bhandari along with associate Sagar BM. Hindustan Aegis LPG, a group company of Aegis Logistics, has commissioned and operates a cryogenic facility near Haldia Port in West Bengal for the import, storage, handling and distribution of liquefied petroleum gas with an annual capacity of 2.5m MT per year.

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