Mahindra Logistics targets May end for 100% acquisition of Meru Companies 

Third-party logistics solution provider Mahindra Logistics, on Friday, informed that the closing requirements for the full acquisition of paid-up share capital of Meru Mobility Tech Private Limited, V-Link Automotive Services Private Limited and V-Link Fleet Solutions Private Limited from Meru Travel Solutions Private Limited (MTSPL) are still underway.

The same will be completed before end of May 2022, the company said. The formalities were previously targeted to complete before February 2022.

Mahindra Logistics is also set to aquire 100 per cent paid-up share capital of MTSPL from Mahindra & Mahindra Limited.

Upon completion of the acquisitions, MMTPL, VASPL, VFSPL and MTSPL will become wholly-owned subsidiaries of Mahindra Logistics and would continue to remain subsidiaries of M&M, the company said in a statement.

MTSPL is a holding entity and through its 3 wholly owned subsidiaries MMTPL, VASPL, VFSPL, operates in ride hail segment as well as in corporate transportation solutions space.

MTSPL, MMTPL, VASPL and VFSPL are collectively referred to as Meru Companies.

With this acquisition, the company expects to invest in Meru Companies with an objective to grow its presence in the shared mobility space and to consolidate the mobility business ownership, enhance its range of mobility solutions with strategic focus on enterprise customers and electric mobility, the company said.