INDIA —Indian energy and chemical logistics provider Aegis Logistics Ltd has approved the acquisition of an 89.8% controlling equity stake in Dubai-headquartered Tristar Holdings Ltd. Executed through its wholly owned step-down unit, Aegis Logistics International Pte Ltd in Singapore, the transaction represents an equity consideration of 809 million US dollars, incorporating contingent payments and deferred interest components. The cash transaction is scheduled for completion in the fourth quarter of fiscal year 2026-27, subject to customary antitrust, competition, and regulatory clearances across relevant jurisdictions.
Aegis Logistics Ltd is a leading Indian logistics enterprise specializing in oil, gas, and chemical terminal operations and supply chain management. Tristar Holdings Ltd, founded in 1998 in the United Arab Emirates, is an international liquid logistics provider offering energy transportation, maritime services, fuel storage, and aviation fueling across more than 30 nations.
Tristar demonstrated sustained operational performance in the fiscal year ending December 31, 2025, recording consolidated revenue of approximately 1.4 billion US dollars, EBITDA of 257 million US dollars, and net profit of 82 million US dollars. To support its strategic expansion and capital requirements, Aegis recently secured board approval for a multi-tranche fundraising initiative of up to 6,000 crore Indian rupees (approximately 720 million US dollars) alongside raising its total corporate borrowing ceiling to an equivalent amount.
This major cross-border deal highlights expanding consolidation within global energy and liquid chemical distribution infrastructure. For maritime shippers, energy producers, and infrastructure investors, combining Aegis's terminal footprint with Tristar's multi-regional maritime fleet and fuel storage infrastructure strengthens bulk liquid supply chains across the Middle East, Asia, and international shipping corridors.
