Kintetsu buys part of Gati for JV

   Kintetsu World Express, a Japan-based logistics service provider, has acquired a 30 percent stake in Gati Limited, paying roughly $54.25 million.
   Gati’s supply chain and 3PL businesses will be turned into a 70:30 joint venture called Gati Kintetsu Express. The venture will combine Gati’s 3PL and distribution in India with Kintetsu’s freight forwarding service and large customer base.
   The companies said the revenue generated from the deal will be used to pay off debt.
   Kintetsu currently has 308 offices across 32 countries, providing forwarding, customs clearance, supply chain management, and domestic distribution.
   Gati provides express, 3PL, e-commerce and warehousing services primarily in India, and has a fleet of more than 4,500 vehicles.