Mahindra Logistics undertakes acquisition

News: MLL has entered into a share purchase agreement to acquire 100% ownership in Meru Mobility Tech Pvt Ltd (MTSPL), V-Link Fleet Dolutions Pvt ltd (VFSPL) and V-Link Automotive Services Pvt Ltd (VASPL) for a total cash consideration of Rs.50.5 crore. MLL is also acquiring Meru Travel Solution Pvt Ltd (MTSPL) from M&M, for a cash consideration of Rs.50.4 crore.

Views: Meru Cabs has a significant presence in airport ride hailing segment and provides on call and employee mobility solutions to corporates. With the acquisition the company will enhance its range of mobility solutions, with focus on enterprise customers and electric mobility.

Impact: Positive