Blue Dart Express buys majority stake in Blue Dart Aviation
News Clip: www.thehindubusinessline.com, Mumbai
22 June, 2015
Blue Dart Express today said it has become a majority shareholder in Blue Dart Aviation after purchasing additional 21 per cent stake.
Now, the overall shareholding of the company in Blue Dart Aviation has increased to 70 per cent. Blue Dart Aviation has become a subsidiary of Blue Dart Express an integrated transportation and distribution company, according to a regulatory filing.
However, financial details were not disclosed.
During its meeting today, Blue Dart Express' board of directors approved hiking stake in Blue Dart Aviation from the present 49 per cent to 74 per cent. Post the approval of the board, the company has acquired additional 21 per cent and now company holds 70 per cent stake into Blue Dart Aviation Ltd, the filing said.
Blue Dart Aviation is a leading player in the domestic air express market specialising in time-definite scheduled freight services for overnight next day delivery of express and cargo loads, as per its website.
Shares of Blue Dart Express rose over one per cent to close at Rs. 6,068.05 on the BSE.