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Gati, TVS Logistics in fray to acquire Snapdeal's Vulcan Express - ETtech
Gati, one of India's largest express distribution and supply-chain companies, mid-market private equity firm Peepul Capital and supply-chain player TVS Logistics have expressed interest to acquire Vulcan Express, the logistics arm of beleaguered online marketplace Snapdeal.
A potential transaction could take place over the next 60 days, with Snapdeal expecting Vulcan Express to fetch Rs 90-120 crore, according to two sources briefed on the matter.
If successful, a sale will provide much-needed capital relief to its cash-starved owner Snapdeal, even as it, in parallel, continues to negotiate its own sale to rival ecommerce company Flipkart.