Stellar Value Chain Solutions Private Limited has signed a pact to buy the surface transport business of Patel Integrated Logistics Limited. Stellar will buy Patel Roadways for Rs 385 million ($5.5 million), subject to customary closing adjustments. The transaction is likely to close by end June 2019. The sale will help Patel Integrated Logistics repay its loans, reduce overhead costs, improve profitability and pursue growth opportunities in areas such as warehousing.
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