Blue Water Logistics Acquires 47% Stake in Thai Company to Strengthen Business Operations
Blue Water Logistics Limited has acquired a significant stake in Blue Water Logistics Company Limited, Thailand, making the foreign entity an Associate Company of the Indian logistics firm. The acquisition is aimed at strengthening the company's operations and expanding its market presence in the region.The parent company acquired 18,800 shares, representing 47% of the paid-up capital and voting rights of Blue Water Logistics Company Limited (the target entity). The transaction was completed through cash consideration.
Blue Water Logistics Limited confirmed that the Thai entity is an Associate Company in line with applicable accounting standards. Two directors from the parent company, Mr. Lakshminarayan Mishra and Ms. Madhusmita Mohanty, hold director positions at Blue Water Logistics Company Limited.
The acquired entity operates within the logistics industry. The purchase of the shares was conducted at par value of Thai baht 100.00 per share.
Key details regarding the acquisition are presented below:
| Particulars | Details |
|---|---|
| Target Entity Name | Blue Water Logistics Company Limited, Thailand |
| Former Name | Sunrise Capital Work (Thailand) Co., Ltd. |
| Industry | Logistics |
| Acquisition Stake | 47.00% (18,800 shares) |
| Acquisition Consideration | Cash |
| Cost of Acquisition | Par value of Thai baht 100.00 per share |
| Objective of Acquisition | Strengthening the Company's business operations and expanding market presence |
The company issued this clarification to address a previous communication where it inadvertently mentioned establishing a Branch Office in Thailand, clarifying instead that the entity is an Associate Company.
Blue Water Logistics Limited assures that due care will be exercised in all future disclosures to ensure accuracy regarding compliance with applicable regulations.
BLUEWATER Stock Price Movement
Blue Water Logistics Limited shares edged higher today, closing the session at ₹424.95 after gaining 0.46%. The equity traded 8,000 shares on the day, successfully moving above its intraday low of ₹410.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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