Mahindra Logistics Limited - Acquisition

10 Nov 2022 , 12:00 AM

Mahindra Logistics Limited has informed the Exchange about Acquisition updates. In continuation to our letters dated 26 September 2022 and 1 November 2022 and in compliance with regulation 30(7) and other applicable provision of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform that MLL Express Services Private Limited (formerly known as Meru Travel Solutions Private Limited), wholly-owned subsidiary of the Company has completed the acquisition/purchase of the B2B express business from Rivigo Services Private Limited (Rivigo) for cash consideration of Rs. 220.9 crores (post adjustments as per the terms of the Business Transfer Agreement) at end of day on 9 November 2022. The B2B express business of Rivigo together with all its associated rights, title, beneficial ownership and interest stands transferred to and vested in MLL Express Services Private Limited on and from today viz. 10 November 2022. Detailed disclosure in this regard is attached.