TVS Logistics Services Ltd (TVSL), a leading third party logistics player in the country, announced the acquisition of Drive India Enterprise Solutions Ltd (DIESL) – a Tata Group company. The value of the acquisition, which is still subjected to regulatory approval, has not been disclosed. Tata Opportunities Fund will take a minority stake in TVSL by investing up to a maximum of Rs 250 crore. This money, among other things, will be used to fund the acquisition. “This acquisition will be a game changer for TVSL as it will bring together two companies that have complementary strengths,” said R Dinesh, managing director, TVSL.
As TVSL is aquiring DIESL but TATA Opportunity Fund is also investing Rs.250 crore so whether it will be a JV or what?
on May 31, 2015As the first para of the story states, TOF will take a minority stake in TVSL for the Rs 250 crore it is investing in the company. That money will be used by TVSL to acquire DIESL.
on Jun 1, 2015