Mahindra Logistics’ wholly-owned subsidiary---MLL Express Services has completed the acquisition/purchase of the B2B express business from Rivigo Services (Rivigo) for cash consideration of Rs 220.9 crore (post adjustments as per the terms of the Business Transfer Agreement) on November 9, 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 on and from November 10, 2022.
The acquisition will augment the company's existing B2B express business leveraging Rivigo's strong network of 250+ processing centres and branches, spanning an area of more than 1.5 million sq.ft., technology and process capabilities and will drive synergies in network, team and customer service.
Mahindra Logistics provides logistics solutions, warehousing facilities, freight forwarding and supply chain management services. It also provides people transport solutions, a specialised line of business which helps corporate clients move employees to and from the workplace.
| Company Name | CMP |
|---|---|
| Allcargo Logistics | 9.58 |
| TVS Supply Chain Sol | 115.39 |
| Container Corp | 502.80 |
| Delhivery | 463.10 |
| Mahindra Logistics | 432.00 |
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