Aegis Logistics To Sell Pipavav LPG Terminal To Associate Firm For ₹4.3 Billion

Aegis Logistics Ltd. on Thursday said it is selling its liquefied petroleum gas terminal at Pipavav, Gujarat, to its associate company Aegis Vopak Terminals Ltd. for ₹4.3 billion through a slump sale on a going concern basis.

The terminal has a cryogenic storage capacity of 48,000 metric tonnes. In an exchange filing, the company said the transaction is a related party deal and a business transfer agreement has been signed between both entities to carry out the sale.

Aegis Vopak Terminals, the acquirer, is engaged in the operation and management of independent storage and handling facilities linked to vessel jetties. Its infrastructure supports storage of chemicals, edible and non-edible oils, petroleum products, liquefied petroleum gas, and other gases, including LNG.