Mahindra Logistics, a third-party logistics solutions provider, said on Friday that Meru Mobility Tech Pvt. Ltd., V-Link Automotive Services Pvt. Ltd. and V-Link Fleet Solutions Pvt. Ongoing.
It will be completed before the end of May 2022, the company said. The formalities were previously targeted to be completed before February 2022.
Mahindra Logistics is also ready to acquire 100% paid up share capital of MTSPL from Mahindra & Mahindra Limited.
Upon completion of the acquisition, MMTPL, VASPL, VFSPL and MTSPL will become wholly owned subsidiaries of Mahindra Logistics and remain partners of M&M, the company said in a statement.
MTSPL is a holding entity and its 3 wholly owned affiliates operate in the corporate transport solution space as well as the ride helmet segment through MMTPL, VASPL, VFSPL.
MTSPL, MMTPL, VASPL and VFSPL are collectively referred to as Meru companies.
Through the acquisition, the company hopes to invest in Meru to expand its presence in the shared mobility space and to integrate ownership of the mobility business, improving the range of its mobility solutions, including a strategic focus on enterprise customers and electrical mobility, the company said.