SBS Holdings to acquire majority stake in Atlas Logistics NDR and TTA advise

Japan based logistics company SBS Holdings has acquired 80 percent stake in Bangalore-based Atlas Logistics. The deal size is close to Rs. 150 crore ($30 million), according to media reports..Narasappa, Doraswamy & Raja advised SBS Holdings with a team led by Partner Harish B. Narasappa along with Senior Associate Neela Badami and Associate Adithya Joseph..Talwar Thakore Associates advised the sellers with a team led by Partner Feroz Dubash along with Associate Shruti Zota..Founded in 1987, SBS Holdings provides business infrastructure services and specialises in land transportation services..Incorporated in 1999 and promoted by Y.M. Sachdeva and Venkatesh Rao, Atlas Logistics provides logistics solutions services, including freight forwarding, customs clearance and warehousing. It has 26 offices across India, and ten offices overseas, according to Dealcurry..This is the third deal by a Japanese company in the Indian logistics space after Hitachi’s unit Hitachi Transport System (HTS) bought Flyjac Logistics for Rs. 250 crore and Nippon Yusen Kaisha (NYK) picked up about 26 percent stake in Tata Steel’s subsidiary TM International last year..J. Sagar Associates advised HTS while Flyjac Logistics was represented by Wadia Ghandy..Bar & Bench had reported another logistic business acquisition deal yesterday where Vikram Logistic, which is owned by London-listed Infrastructure India Plc, has acquired the logistics business of ETA Engineering in a deal worth Rs. 141 crore (£18 million or $14,42 million). S&R advised ETA while MMB Legal represented Vikram Logistics.