CJ Logistics Secures Additional Stake in Indian Subsidiary... Aiming to Develop a Global Logistics Hub

【New Delhi (India) · Hanoi (Vietnam) = Pragya Awasthi Correspondent · Kim Jun-seok Reporter】CJ Logistics has increased its stake in its Indian subsidiary CJ Dasl by an additional 6%, bringing its total stake to 56%. This equity acquisition, valued at 32 million dollars (approximately 43.8 billion won), was made to strengthen CJ Dasl's capital base and lay the groundwork for executing next-generation growth strategies. CJ Dasl is accelerating its efforts to penetrate the Indian market by pursuing a listing on the Indian stock exchange from 2023.
CJ Logistics stated on the 27th, "This investment was made in the form of a combination of newly issued shares and the purchase of existing shareholder stakes, and it is strategically intended to be used for Dasl's nationwide infrastructure expansion and digital transformation." With this, CJ Dasl plans to accelerate the expansion of nationwide multimodal logistics infrastructure, advanced logistics terminals, smart warehouses, digital supply chain solutions, and the establishment of alternative fuel-based transportation platforms.
Previously, CJ Logistics entered the Indian market by acquiring a 50% stake in the Indian logistics company Dasl (DARCL) in 2017 and has since co-operated the entity rebranded as 'Dasl'. This stake expansion will lead to strengthened control over the management of the Indian subsidiary. The remaining 44% stake continues to be held by the Dasl founding family and affiliates.
Kim Kwon-woong, head of CJ Logistics Asia-Pacific (APAC) division, emphasized, "India stands at the turning point of change in the global logistics industry and is a key hub in CJ Logistics' global strategy," adding, "Through collaboration with CJ Dasl, we will innovate India's supply chain and build a high-efficiency logistics ecosystem."
Meanwhile, this equity acquisition is part of CJ Logistics' strategy to strengthen its global mergers and acquisitions (M&A) and is expected to create synergy with CJ Group's expansion of its global logistics network, in line with the National Logistics Policy (NLP) led by the Indian government. The NLP aims for logistics efficiency befitting India's status as the world's fifth-largest economy and includes △Integration of Digital Systems (IDS) △Unified Logistics Interface Platform (ULIP) △Ease of Logistics (ELOG) △System Improvement Group/Ecosystem (SIG).rejune1112@fnnews.com Kim Jun-seok Reporter, Pragya Awasthi Correspondent