Delhivery to acquire Ecom Express for Rs 1,400 crore cash to scale up business | Here are details

Logistics services provider Delhivery Ltd on Saturday (April 5) announced the acquisition of Ecom Express Ltd for a cash consideration of about Rs 1,400 crore to scale up its business. In a regulatory filing, the company said it has signed a definitive agreement to acquire a controlling stake in Ecom Express Ltd 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 Ltd for a purchase consideration not exceeding Rs 1,407 crore."

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