Mahindra Logistics acquires Meru Cabs from Mahindra & Mahindra

The third party logistics company, MLL is a 58.34 percent subsidiary of M&M.

Mahindra Logistics (MLL) on Tuesday announced 100 per cent equity capital acquisition of Meru Cabs, a ride-sharing company, from its parent Mahindra & Mahindra (M&M). The all-cash deal size is Rs. 50.4 crore for acquisition of shares of Meru Travel Services Private Limited from M&M. The deal additionally envisages stake buyout of three subsidiaries of Meru Travel Service Private Limited as well. The total deal size (both combined) would be 100.9 crore. The deal is expected to be completed by December.

Meru Travel Solutions Private Limited (MTSPL) or Meru Cabs, founded in 2006, will be part of MLL along with