Gati, TVS Logistics in race to acquire Vulcan Express

Sushubh

Administrator
[OP]
Oct 29, 2004
420,556
13,129
Gurugram
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.
 

Similar threads