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Firms/companies > M > Mahindra & Mahindra
Mahindra acquires all of Meru Cabs with fresh investment of Rs98 crore
03 May 2021
Mahindra & Mahindra has acquired the remaining 56.80 per cent shares in Meru Travel Solutions Limited (Meru Cabs), with a fresh investment of Rs98 crore, to take full control of the shared mobility business as the automotive major expands into new markets and finds new markets for its vehicles.
Mahindra acquired 44.14 per cent shares in Meru Cabs owned by private equity investor True North and others for Rs76.03 crore and 12.66 per cent shares from Neeraj Gupta and Farhat Gupta for Rs21.63 crore. With this acquisition, Mahindra now owns 100 per cent stake in Meru.
281 Photo for representation only
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