Allcargo Logistics has ventured into the express logistics space by acquiring a controlling stake in Gati Ltd for Rs 416 crores, the company said after the board approved the deal.As part of the deal, Allcargo will buy up to 1,03,85,332 equity shares at Rs 75 per share from some of the existing members of the Promoter and Promoter Group of Gati – Mahendra Kumar Agarwal, Mahendra Investment Advisors Pvt Ltd and TCI Finance Ltd (TCI), and Gati.