FedEx to buy shipping business in India - Business First
FedEx Corp. announced Wednesday that its FedEx Express unit will acquire the logistics, distribution and express businesses of India-based AFL Pvt. Ltd. and its affiliate, Unifreight India Pvt. Ltd.
The acquisition will give FedEx a more robust domestic ground network and added capabilities in India, according to a news release. FedEx expects the transaction to close in its third fiscal quarter, which ends in February. Terms of the deal were not disclosed.
The FedEx news release said AFL Pvt. Ltd., founded in 1945, has been a leader in the transportation and logistics industry in India. A privately held company, the AFL business offerings include a comprehensive range of distribution and logistics services through a well-established network across India.
FedEx Corp. announced Wednesday that its FedEx Express unit will acquire the logistics, distribution and express businesses of India-based AFL Pvt. Ltd. and its affiliate, Unifreight India Pvt. Ltd.
The acquisition will give FedEx a more robust domestic ground network and added capabilities in India, according to a news release. FedEx expects the transaction to close in its third fiscal quarter, which ends in February. Terms of the deal were not disclosed.
The FedEx news release said AFL Pvt. Ltd., founded in 1945, has been a leader in the transportation and logistics industry in India. A privately held company, the AFL business offerings include a comprehensive range of distribution and logistics services through a well-established network across India.
