LGI Acquires Pantos Logistics to Boost the Synergies of Trading and Logistics
- Pushes to take over a 51% stake in Pantos for KRW314.7 billion
- LGI’s global business capacity and Pantos’s logistics capacity combine to bolster LGI’s trading competitiveness and enhance its corporate value
LGI is set to acquire South Korea’s representative total logistics company Pantos Logistics to boost the synergies of its trading and logistics businesses.
LGI (CEO: Song Chi-ho) held a board meeting on January 20 to resolve the company’s acquisition of a 51% stake (1.02 million shares) in Pantos for KRW314.7 billion.
Through this acquisition, LGI expects to gain synergies such as the boosting of the logistical function in its resources and industrial-materials trading business, its logistical-function use, and its exploration of new business opportunities.
In addition, LGI plans to operate Pantos as its subsidiary, to use its global business capacity to boost Pantos’s overseas business competitiveness, and to expand its logistics business area from containerization logistics to bulk logistics, with focus on resources/materials.
An LGI official explained, “We plan to combine LGI’s global capacity and Pantos’s logistics capacity to boost our business competitiveness and corporate value.”
Pantos, a total logistics company established in 1977, provides logistical services to some 2,500 clients in diverse industries, including electronics, machinery, chemicals, oil refining, construction, and distribution.