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Mahindra Logistics acquires MERU equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.
Mahindra will enhance its current shareholding in Meru from 43.20% to 100%. Pravin Shah will be the CEO of Meru with effect from May 1, 2021.
Mahindra has announced that it has entered into agreements with shareholders of Meru Travel Solutions Private Limited (Meru) to buy their respective stakes in the ride-sharing company.
Mahindra will acquire 44.14% shares from Private Equity investor, True North and others for an amount not exceeding Rs. 76.03 crores. It will acquire 12.66% shares from Mr Neeraj Gupta and Mrs Farhat Gupta for an amount not exceeding Rs. 21.63 crores. With this arrangement, Mahindra will enhance its current shareholding in Meru from 43.20% to 100%.
M&M to Enhance its Ownership to 100 per cent in Meru equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.
: Friday, April 30, 2021, 9:08 PM IST
Mahindra and Mahindra now owns Meru: Buys stake worth around Rs 98 crore from Private Equity investor, True North, founder and others
Mahindra and Mahindra now owns Meru: Buys stake worth around Rs 98 crore from Private Equity investor, True North, founder and others
Mahindra and Mahindra Ltd. (M&M) has entered into definitive agreements with shareholders of Meru Travel Solutions Private Limited (Meru) to buy their respective stakes in Meru. With these agreements worth around Rs 97.66 crore, M&M will become the owners of Meru.
The listed company would acquire 44.14 per cent shares from Private Equity investor, True North and others for an amount not exceeding Rs. 76.03 crore and 12.66 per cent shares from Neeraj Gupta and Farhat Gupta, for an amount not exceeding Rs 21.63 crore. With this arrangement, M&M will enhance its current shareholding in Meru from 43.20 per cent to 100 per cent.