According to the group statement, the investor consortium is led by energy major NetOil and includes companies from the consumer brand distribution sector in Europe, a prominent American retailer, and a green supply chain company from the US.

This acquisition holds strong long-term value and synergies for our consortium of buyers. In the short term, it brings a significant volume of shipments and revenue, along with access to a robust network of quality manufacturers from across the globe, said Gilles Koch from NetOil.

The buyers intend to pay the sellers via a mix of cash and stock, with payments spread over the course of the next three years. As someone who arrived in the UK from India in 2016 to complete his MBA from Strathclyde Business School, the entrepreneur is also passionate about the opportunities within the India-UK corridor.

Having gained extensive experience in the realm of global trade, I am firmly convinced that the UK-India corridor holds immense potential. Both nations stand to gain significantly by accessing each other’s markets, technologies, investment opportunities, and talent pools.

On a personal level, I am eager to contribute more to the development of this corridor, said Shankar, who still retains his Indian citizenship.

While my current focus involves fostering the UK-India trade corridor, my ultimate vision is to return to India and play a role in developing its business ecosystem and contributing to society at large.

First Published: Sep 17 2024 | 3:52 PM IST