Delhivery has received approval from Competition Commission of India (CCI) for proposal to acquire a majority stake in Ecom Express for about Rs 1,400 crore. The proposed combination comprises the acquisition of at least 99.44 per cent of the equity and preference shareholding (on a fully diluted basis) of Ecom Express (Ecom) by Delhivery.
It has signed a definitive agreement to acquire a controlling stake in Ecom Express for a cash consideration of around Rs 1,400 crore from its shareholders. The company’s board approved the acquisition of shares equivalent to at least 99.4 per cent of the issued and paid-up share capital, on a fully diluted basis, of Ecom Express for a purchase consideration not exceeding Rs 1,407 crore. This acquisition aims to enhance Delhivery’s scale, thereby strengthening its value proposition to clients.
Delhivery provides a full range of Logistics services, including delivery of express parcel and heavy goods, PTL freight, TL freight, warehousing, supply chain solutions, cross-border Express, freight services, and supply chain software.
