India, June 17 -- The Government of India issued the following news release:
The Competition Commission of India has approved the acquisition of at least 99.44% of the equity and preference shareholding (on a fully diluted basis) of Ecom Express Limited by Delhivery Limited.
The Proposed Combination comprises acquisition of at least 99.44% of the equity and preference shareholding (on a fully diluted basis) of Ecom Express Limited (Ecom) by Delhivery Limited (Delhivery).
Delhivery is a publicly listed Indian company. It is an integrated logistics player and provides a full-range of logistics services, including express parcel delivery, heavy goods delivery, full truckload freight, part-truckload freight, warehousing and supply chain services (including supply chain software solutions and value-added services), and cross border express services. Delhivery operates through a network of domestic and global partners and has made investments in automation, self-developed logistics technology and in data intelligence capabilities.
Ecom is a public unlisted Indian company. It provides logistics solutions to the Indian e-commerce industry. Ecom uses automated solutions to enable pickup, processing, network operation, delivery, reverse logistics and returns management. Ecom also offers storage and warehousing solutions.
Disclaimer: Curated by HT Syndication.
