Integrated logistics solutions provider Allcargo Logistics Ltd has bought a controlling stake in Gati Ltd for around ₹416 crore, entering the express logistics space. As part of the transaction, Allcargo has signed a share purchase agreement with Gati’s promoter group to acquire up to 10.3 million shares at ₹75 apiece. Allcargo will also subscribe to a preferential issue of 13.3 million equity shares of Gati at ₹75 apiece. Consequent to the closure of the two agreements, Allcargo will own a 19.43% stake in Gati. Allcargo will spend ₹178 crore for acquiring the stake.