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The Competition Commission of India (CCI) has approved the acquisition of at least 99.44 per cent of the equity and preference shareholding (on a fully diluted basis) of Ecom Express Limited by Delhivery Limited, an official statement said.
The Proposed Combination comprises the acquisition of at least 99.44 per cent of the equity and preference shareholding (on a fully diluted basis) of Ecom Express Limited (Ecom) by Delhivery Limited (Delhivery). Delhivery is a publicly listed Indian company. It is an integrated logistics player and provides a full range of logistics services, including express parcel delivery, heavy goods delivery, full truckload freight, part-truckload freight, warehousing and supply chain services (including supply chain software solutions and value-added services), and cross-border express services. Delhivery operates through a network of domestic and global partners and has invested in automation, self-developed logistics technology, and data intelligence capabilities. Ecom is a public, unlisted Indian company that provides logistics solutions to the Indian e-commerce industry. It uses automated solutions to enable pickup, processing, network operation, delivery, reverse logistics, and returns management. Ecom also offers storage and warehousing solutions. Detailed order of the Commission will follow. (ANI)
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