ALLCARGO LOGISTICS LTD. Completes Acquisition of Fair Trade GmbH Schiffahrt, Handel und Logistik for EUR 2.9 million

ALLCARGO LOGISTICS LTD. has announced the completion of the acquisition of the remaining 25% stake in Fair Trade GmbH Schiffahrt, Handel und Logistik for a consideration of EUR 2.9 million. With this acquisition, ECU Worldwide N.V., a wholly owned subsidiary of ALLCARGO LOGISTICS LTD., now holds 100% stake in Fair Trade. The company's turnover as of March 31, 2023, was EUR 13,679,876, and this transaction does not involve any related party interests. The acquisition falls under the Logistics - Ocean Freight Forwarding industry and aims to expand the company's FCL and LCL business. Local regulatory approvals have been complied with, and the acquisition was completed on May 21, 2024.