We wish to inform you that the Company has signed a Term Sheet/ MOU w.r.t. investment in CCSL LLC, Dubai
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Velox Shipping and Logistics Ltd has signed a Term Sheet/MOU to acquire a 98% equity stake in Consolidated Container Shipping Line LLC (CCSL Dubai), a UAE-based logistics company. The deal is valued at Rs 5 crore and will be a cash transaction, with completion targeted on or before December 2026. CCSL Dubai, incorporated in September 2022, offers sea cargo, container loading/unloading, and freight services. Its turnover stood at AED 40.5 lakh in FY25 (down from AED 54.8 lakh in FY24) with a small loss of AED 30,660. The acquisition aims to expand Velox's presence in international logistics markets. No regulatory approvals or related party concerns were flagged.
For shareholders, this marks Velox's first overseas acquisition and a clear push into international logistics, but the target is small and currently loss-making, making execution and integration key risks to watch over the next year.