Indo Trans Logistics Corporation proposed to acquire remaining 58.2% stake in South Logistics Joint Stock Company (HOSE:STG) from Vietnam Electrical Equipment Joint Stock Corporation (HOSE:GEX) and others on March 4, 2020. Under the proposal, Sotrans has approved ITL to increase stake without making a mandatory public offering in line with Vietnamese regulations. On March 31, 2020, General Meeting of Shareholders of South Logistics Joint Stock Company unanimously approved to allow Indo Trans Logistics Corporation to increase the ownership ratio without any public tender offer. Symphony has been working closely with ITL and a number of International banks and the company recently secured $70 million in financing from an IFC led consortium to complete the acquisition of SoTrans. The acquisition is expected to close in the third quarter of 2020. Indo Trans Logistics Corporation completed the acquisition of 55% stake in South Logistics Joint Stock Company (HOSE:STG) from Vietnam Electrical Equipment Joint Stock Corporation (HOSE:GEX) and others in August 18, 2020. Post completion, Indo Trans Logistics Corporation hold 97% stake in South Logistics Joint Stock Company.

Indo Trans Logistics Corporation completed the acquisition of a 54.78% stake in South Logistics Joint Stock Company (HOSE:STG) from GELEX Group Joint Stock Company (HOSE:GEX) on June 30, 2020.