Tata Opportunities Fund takes minority stake to fund the deal
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.