Hemas divests entire stake in Spectra Logistics for Rs.1.27bn

Hemas Holding PLC has divested its entire stake in its sub-subsidiary Spectra Logistics (Pvt.) Limited for Rs.1.27 billion to GAC Logistic (Private) limited.

Spectra Logistics was a joint venture (JV) between Hemas Transportation, a fully-owned subsidiary of Hemas Group and GAC Logistic (Private) Limited, a partnership between GAC Global and McLarens Holdings.

Spectra has been promoted as a trusted brand for synergised logistics solutions in supply chain, freight and project and container services. It operates one of the country’s largest integrated logistics parks in Muthurajawela. 

The park has a capacity of nearly 25,000 palette positions, supported by automated material handling and proprietary software developed by GAC Global, which is supported by global IT centres in Singapore and Dubai.

Further, Hemas Group also relies on Spectra Logistics as the key logistics provider for its core businesses. 
Hemas Group had a 50 percent effective stake in Spectra.