Gati Ltd said it would form a joint venture with a unit of Japan's Kintetsu Corp as part of the Indian courier services provider's efforts to expand its global operations.

    Gati said it would hold a 70 percent stake in the joint venture, while Kintetsu World Express would own the rest, reported Dow Jones Newswires.

    Gati will transfer its express distribution and supply chain business to the venture, while Kintetsu will invest US$54.35 million in it.

(Source:http://www.cargonewsasia.com/index.aspx)