Sical Logistics has executed a Term Sheet with Patchems (target entity) for acquisition of the business in providing integrated supply chain solutions including warehousing / logistics. The company will acquire 51% of the share capital of Patchems during the month of June 2017 and the balance staggered in stages and completion on or before June 30, 2020.

The total consideration for the acquisition will be Rs 95.0 million and payment staggered on the stages of purchase with an initial payment of Rs 48.45 million at the time of transfer of 51% of the shares held by the Promoters.

This acquisition will help in movement and storage of cargoes at the warehousing facilities for the pharma and FMCG sectors and provide value added services in this regard which would improve the warehousing and 3PL activities of the company.

Shares of the company declined Rs 4.95, or 1.96%, to trade at Rs 248.00. The total volume of shares traded was 2,681 at the BSE (3.54 p.m., Monday).