Delhivery Buys Ecom Express: A Big Step in Online Shopping Deliveries
India’s Competition Watchdog Approves the Deal
The Competition Commission of India (CCI) has approved a major deal. Delhivery, a leading logistics company, will now take over Ecom Express. Delhivery will acquire a 99.4% stake in Ecom Express for up to Rs 1,407 crore.
What Does the Deal Include?
- Delhivery will buy at least 99.44% of Ecom Express’s shares.
- The deal is valued at up to Rs 1,407 crore, paid in cash.
- This acquisition was first announced in April.
Why Is This Deal Significant?
This deal marks a significant development in India’s logistics industry. Here’s why it matters:
- It will help Delhivery expand its operations.
- It will enhance Delhivery’s capabilities in e-commerce logistics.
- Ecom Express plays a crucial role in India’s growing e-commerce market.
About the Companies Involved
Delhivery provides a comprehensive range of logistics services. Ecom Express, headquartered in Gurugram, specializes in e-commerce logistics. Last fiscal year, Ecom Express reported revenues of Rs 2,607.3 crore.
What Happens Next?
The CCI reviews major deals to ensure they do not negatively impact market competition. With this approval, Delhivery can proceed with the acquisition. This deal is set to increase Delhivery’s scale and enhance its services in the competitive express parcel and e-commerce logistics sectors.
