Allcargo Logistics (NSE:ALLCARGO, BOM:532749) has incorporated a step-down subsidiary in Turkey named ECU ESC Turkey Lojistik Hizmet Merkezi Anonim Sirketi, according to a Tuesday filing to the Indian stock exchanges.
Asiapac Turkey Tasimacilik Anonim Sirketi, a step-down subsidiary of the company, holds a 100% shareholding in the new entity.
Shares of the company were down 3% in recent trade.
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