Chennai, 12 April 2007: Sical Logistics Limited, India’s leading integrated multimodal logistics services provider, today announced it will sell its entire holding in the 100% subsidiary, Mac Oil Palm Ltd, to Soyumm Marketing, a part of the Ruchi group. The company was incorporated on 10 February 2006 to transfer the palm oil business in line with Sical's strategy of hiving off non-core businesses and focus on its core business of logistics.

The scheme of demerger was sanctioned by the High Court of Madras on 12 January 2007 after approval from shareholders. The scheme became effective 5 February 2007, when the court order was filed with India's Registrar of Companies.

Sical has sold its entire holding to Soyumm Marketing & part of the Ruchi Group, for a consideration of Rs 29.37 crore. Sical concluded the transaction of sale of its shares in Mac Oil Palm Kltd today.

Mumbai based Singhi Advisors were the sole advisors to Sical for this sale.

About Sical Logistics
Sical Logistics Ltd is India’s leading provider of integrated multi-modal logistics for bulk and containerized cargo--port logistics; inland logistics; container logistics; and offshore logistics. Sical’s delivery network includes an exclusive walk-in berth at Chennai for ships carrying bulk cargo; a container terminal at Tuticorin, 1.9 million square feet of storage across over 100 warehouses; owned and regularly contracted fleet of over 2400 transport vehicles, and container freight stations at 4 locations across India. Sical’s FY 2005-06 revenue was Rs. 9.60 billion on Rs. 301.9 million equity capital.

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