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Aegis Logistics to buy 89.8% stake in Tristar for $809 million
Oct-14-2026

Aegis Logistics, through its step-down 100% subsidiary -- Aegis Logistics International, has entered into a definitive agreement under which the company proposes to acquire 89.8% of Tristar Holdings (Tristar) from Agility Tristar, Gulf Investment Corporation and Diamond Holdings for an equity consideration of $809 million (including contingent and interest for deferred consideration). The acquisition is expected to be completed in Q4 FY27. The proposed acquisition is subject receipt of regulatory approvals under the applicable competition and anti-trust laws and satisfaction of customary closing conditions.

The board of directors of the company, at its meeting held on October 13, 2026, has approved the proposed acquisition. The acquisition is expected to create an immediate contribution to overall profitability and also provides important long-term strategic benefits for the company. 

Established in 1998, Tristar is an integrated liquid logistics solutions provider offering end-to-end liquid logistics services including maritime logistics, road transport, fuel tank storage, fuel distribution and aviation fuelling. Tristar is incorporated in Dubai and has operations in 30+ countries globally.

Aegis Logistics is India’s leading integrated Oil, Gas & Chemical Logistics company and one of India’s top Importers and Handlers of LPG amongst private players.

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