In a strategic move, Saif Powertec has successfully acquired a commanding 51% majority stake in Innovative Logistics & Shipping Limited (ILSL), solidifying its position as the largest shareholder and gaining control of the company. The transaction, valued at Tk2.55 crore, was publicly disclosed through stock exchange channels on Sunday, marking a significant development in the business landscape.
With this acquisition, Saif Powertec ascends to the role of the parent company, while ILSL transitions into its subsidiary, a shift catalyzed by Saif Powertec’s majority stake in the subsidiary. The move aligns with Saif Powertec’s strategic vision for expansion and diversification within the industry.
ILSL is poised to engage in a spectrum of operations under its new majority shareholder. This includes an array of services such as logistics, shipping, inland transportation, cargo transport, port operations, inland logistics, and storage for various food items and commodities. Additionally, the company will function as an agent for export, import, manufacturing, distribution, and marketing, serving both Bangladeshi and international companies.
Furthermore, the diversified portfolio of ILSL encompasses various trading activities, spanning commodities like sugar, oils (soybean, mustard, coconut, tishi, sunflower, etc.), oil cakes, dairy products, baby foods, fruits, vegetables, grains, spices, nuts, tea, coal, and more. The company also extends its reach into farming, including cattle, pigeons, buffaloes, mushroom cultivation, container and cargo handling, and shipping agency services.
This strategic acquisition positions Saif Powertec to leverage the synergies between the two entities, fostering a robust and diversified business model. The move not only consolidates Saif Powertec’s market presence but also signals a strategic alignment with the dynamic landscape of logistics and shipping in Bangladesh.
