# Aegis Logistics to Acquire 89.8% Stake in Dubai's Tristar for $809 Million

- URL: https://stocks.freetheai.org/news/aegis-logistics-to-acquire-89-8-stake-in-dubai-s-tristar-for-809-million-31342d
- Published: 2026-10-15T04:14:46Z
- Category: mergers; sentiment: bullish; impact: high
- Symbols: [NSE:AEGISLOG](https://stocks.freetheai.org/symbols/NSE-AEGISLOG)
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Indian energy logistics company Aegis Logistics Limited (NSE:AEGISLOG) has entered into a definitive agreement to acquire an 89.8% stake in Dubai-based Tristar Holdings for $809 million in equity consideration. The transaction will be executed through Aegis's overseas subsidiary, Aegis Logistics International Pte Ltd, which is purchasing the stake from Agility Tristar Holdings, Gulf Investment Corp, and Diamond Holdings. The deal values Tristar at an equity value of $882 million and an enterprise value of $1.5 billion.

The acquisition marks a major global expansion for Aegis, extending its operations beyond domestic storage and distribution into international maritime transport, fuel distribution, and aviation fuelling. Tristar operates across more than 30 countries with extensive infrastructure, including over 1,000 trucks, 26 vessels, 14 fuel farms, and access to 3.5 million cubic metres of fuel storage capacity through its Aquarius Energy joint venture with Glencore. In 2025, Tristar generated $1.4 billion in revenue and $82 million in net profit.

Investors will be watching for further details on how Aegis finances the transaction, as the company has not yet publicly outlined the full debt and equity breakdown. Aegis shares were down 3.45% at 1,438 INR in recent trading following the announcement.

## Key points

- Aegis Logistics Limited (NSE:AEGISLOG) agreed to buy an 89.8% stake in Dubai-based Tristar Holdings for $809 million.
- The deal places an enterprise value of $1.5 billion and an equity value of $882 million on Tristar Holdings.
- Aegis is buying the shares via its subsidiary Aegis Logistics International Pte Ltd from three current shareholders.
- Tristar posted $1.4 billion in revenue and $257 million in EBITDA in 2025 across operations in over 30 countries.

## Questions and answers

### How much is Aegis Logistics paying for Tristar Holdings?

Aegis Logistics is paying $809 million in equity consideration to acquire an 89.8% stake in Tristar Holdings, which values Tristar at an enterprise value of $1.5 billion.

### What assets and operations does Tristar Holdings own?

Tristar operates in over 30 countries with more than 1,000 trucks, 26 vessels, 14 fuel farms, 60 remote fuel sites, and 3.5 million cubic metres of storage capacity through a joint venture with Glencore.

### How is Aegis Logistics acquiring the Tristar stake?

Aegis is buying the majority stake through its wholly owned step-down subsidiary, Aegis Logistics International Pte Ltd, from Agility Tristar Holdings, Gulf Investment Corp, and Diamond Holdings.