Govt asks Geodis to register with directorate general of shipping.
Economic Times (New Delhi, India), May, 2007
May 16--NEW DELHI -- The government has asked French logistics player Geodis to register with the Directorate General of Shipping to function as a multi-modal transport operator following its decision to pick up a 15 percent stake in Wilson Sandhu Logistics India, a Mumbai-based transportation company.
Geodis had agreed to pick up TNT Forwarding Holdings' 15 percent stake in Wilson Sandhu Logistics following an agreement with TNT late last year. Geodis will hold about Rs 22 lakh out of Wilson Sandhu's total paid up capital of Rs 1.47 crore. The company will continue to function as a transport operator engaged in freight forwarding, sea chartering, container leasing and movement of air and sea cargo.
The Foreign Investment Promotion Board (FIPB) had...
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