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Mahindra Logistics extends deadline to complete acquisition of Rivigo’s B2B business

Mahindra Logistics extends deadline to complete acquisition of Rivigo’s B2B business

Mahindra Logistics extends deadline to complete acquisition of Rivigo’s B2B business
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By CNBCTV18.com Nov 2, 2022 2:08:36 PM IST (Published)

The earlier date for the acquisition to be completed was set as November 1.

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Mahindra Logistics Ltd. extended the deadline to complete the acquisition of Rivigo Services Pvt. Ltd.'s B2B express business.
The earlier date for the acquisition to be completed was set as November 1.
Mahindra Logistics said that it would acquire Rivigo’s B2B express business and its technology platform through a business transfer agreement (BTA). Rivigo will, however, retain ownership of its truck fleet and full truckload (FTL) operations.
During the fiscal year 2021, Rivigo’s B2B express business made a turnover of Rs 371.3 crore. Currently, it covers more than 19,000 PIN codes across the country through more than 250 processing centres and branches.
Mahindra Logistics offers supply chain solutions, third-party logistics, full truck-load transportation, warehousing, cross-border logistics, last mile, and B2B express logistics services.
Shares of Mahindra Logistics are trading 0.5 percent lower at Rs 539.65.
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