Aegis Logistics to Acquire Majority Stake in Tristar for US$809 Million
Aegis Logistics will acquire approximately 89.8% of Tristar Holdings for US$809 million. Tristar generated US$1.4 billion in revenue and US$82 million in net profit in FY25. The acquisition aims to transform Aegis into an international energy logistics platform. Completion is expected in Q4 FY27, subject to regulatory approvals.
This is a major strategic acquisition that will fundamentally alter Aegis Logistics' business profile, expanding its operations internationally and significantly increasing its scale and revenue base. The financial consideration and the transformative nature of the deal suggest a high impact on the company's future growth and market position.
The acquisition is expected to significantly expand Aegis Logistics' global reach and service offerings, transforming it into an international energy logistics platform. The deal is projected to contribute positively to profitability and unlock material synergies, indicating a strong positive outlook for the company.
Aegis Logistics Limited, through its wholly-owned subsidiary Aegis Logistics International Pte Ltd, has entered into a definitive agreement to acquire approximately 89.8% of Tristar Holdings Limited from Agility Tristar Holdings Limited, Gulf Investment Corporation, and Diamond Holdings Limited. The equity consideration for this acquisition is US$809 million, which includes contingent and deferred payment components.
Tristar, established in 1998, is a global integrated liquid logistics solutions provider operating in over 30 countries. For the fiscal year ended December 31, 2025, Tristar reported consolidated revenues of approximately US$1.4 billion, EBITDA of approximately US$257 million, and a net profit of approximately US$82 million.
Mr. Raj Chandaria, Chairman and Managing Director of Aegis Logistics, stated that the acquisition will transform Aegis into an international energy logistics platform with significant global reach and expanded service offerings. He highlighted the benefits of greater scale, business and geographic diversification, access to blue-chip customers, and expected material synergies. The acquisition is anticipated to contribute immediately to profitability and provide long-term strategic benefits.
Mr. Eugene Mayne, Founder and Group CEO of Tristar Group, welcomed Aegis as the new majority shareholder, seeing the partnership as an exciting new chapter for Tristar's growth, bringing together complementary strengths and a shared vision. Mr. Tarek Sultan, Chairman of Agility Global PLC, noted Tristar's significant scaling under Agility's ownership and expressed confidence in Aegis and Tristar's future success.
The proposed acquisition is contingent upon receiving regulatory approvals under applicable competition and anti-trust laws and the satisfaction of customary closing conditions. The completion of the acquisition is expected in Q4 FY27.
BNP Paribas is acting as the exclusive financial advisor to Aegis, with Norton Rose Fulbright and Veritas Legal serving as legal counsel. Aegis Logistics Limited is an Indian company providing sourcing, storage, and distribution services in the oil, gas, and chemicals sector, with a vision to support India's sustainable future.
What to do with a filing like this
Aegis Logistics Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
That call is the part a filing cannot make for you. On RealCase, SEBI-registered research analysts and investment advisers read announcements like this one and turn the ones that matter into actions inside their model portfolios: a change in weight, a hold, or nothing at all. You are not left working out which of the roughly 250 filings published each day needs a response. The portfolio you follow is updated when a filing actually warrants it, with the reason written down.
See the model portfoliosA plain-language summary of a public exchange filing by Aegis Logistics Limited. Read the original for the full detail.