Aegis Logistics surges on $809 mln deal to acquire 89.8% stake in Tristar

Aegis Logistics surged 6.11% to Rs 1,477 after the company approved the proposed acquisition of an 89.8% stake in Dubai-based Tristar Holdings.

The acquisition carries an equity consideration of $809 million, including contingent payments and interest on deferred consideration.

The acquisition will be undertaken through Aegis Logistics International, the company's wholly owned step-down subsidiary. The definitive agreement provides for the purchase of the stake from Agility Tristar Holdings, Gulf Investment Corporation and Diamond Holdings. The transaction is subject to regulatory approvals under applicable competition and anti-trust laws and customary closing conditions. It is expected to be completed in Q4 FY27.

Established in 1998, Tristar is an integrated liquid logistics solutions provider offering maritime logistics, road transport, fuel tank storage, fuel distribution and aviation fuelling services. Incorporated in Dubai, the company operates in more than 30 countries.

For the year ended 31 December 2025, Tristar reported consolidated revenue of approximately US$ 1.4 billion, EBITDA of US$ 257 million and net profit of US$ 82 million. Its revenue increased to US$ 1.401 billion in 2025 from US$ 1.220 billion in 2024 and US$ 1.089 billion in 2023.

Aegis Logistics said the acquisition is expected to contribute immediately to profitability and provide long-term strategic benefits. The transaction is intended to expand its international presence, diversify its business and geographic exposure, and strengthen its position in the energy logistics sector.

Aegis Logistics is engaged in sourcing, storage, distribution and third-party logistics services in the oil, gas and chemicals sectors. The acquisition marks a strategic move to expand beyond its domestic operations and build an international energy logistics platform.

On a consolidated basis, Aegis Logistics' net profit surged 268.90% to Rs 484.44 crore while net sales rose 37.07% to Rs 2356.86 crore in Q1 June 2026 over Q1 June 2025.

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