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Mahindra Logistics on course to acquire Meru; Stock gains over 1%

The company has bought 100% share capital of Meru Mobility Tech, V-Link Fleet Solutions, and V-Link Automotive Services from Meru Travel Solutions.

December 28, 2021 12:16 IST | India Infoline News Service
Bull run Faster
Mahindra Logistics Limited informed the exchanges Monday that certain procedural formalities for acquisition transactions are underway and that the transaction is expected to be completed before the end of February 2022.

The company had intimated on November 9, 2021, that the company had entered into a Share Purchase Agreement to:

a. Acquire 100% paid-up share capital of Meru Mobility Tech Private Limited (MMTPL), V-Link Automotive Services Private Limited (VASPL), and V-Link Fleet Solutions Private Limited (VFSPL) from Meru Travel Solutions Private Limited (MTSPL), a Fellow Subsidiary of the Company; and

b. Acquire 100% paid-up share capital of MTSPL from Mahindra & Mahindra Limited (M&M), Holding and Promoter Company of the Company.

At around 12.22 pm, Mahindra Logistics Ltd was trading at Rs664.30 per piece up by Rs7.9 or 1.2% from its previous closing of Rs656.40 per piece on the BSE.

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