TIẾNG VIỆT Logistics firm ITL completes acquisition of Sotrans Group
Photo: cafeF.vn
Value of the deal was not disclosed, but this merger is expected to bring ITL closer to its target of becoming a leader in transportation, logistics, warehousing services in Vietnam and in the region.
ITL said it will maintain a Dual Brands strategy to utilize the resources and strengths of the both businesses, aiming for comprehensive cooperation in the services that ITL and Sotrans Group.
The merger and acquisition of Sotrans Group is expected to bring greater values and enhance the position of ITL Corp when it owns a strong Sotrans brand in the market with a strong operating system built from the 1970s and the asset platforms including sea ports, river ports, inland waterway and barges , ICD, warehouses.
ITL Corp has built the foundation for this merger since September 2015 and has persisted in pursuing this goal during the past 5 years, while Sotrans Group is the Top 3 of Vietnam's logistics providers.
