India, June 17 -- The Competition Commission of India (CCI) has approved Delhivery Ltd's proposal to acquire a majority stake in Ecom Express for approximately ?1,400 crore.
According to the CCI's statement, the transaction involves Delhivery acquiring at least 99.44% of the equity and preference shares (on a fully diluted basis) of Ecom Express Ltd.
Delhivery is an integrated logistics services provider, offering end-to-end supply chain solutions, while Ecom Express is an unlisted company specializing in logistics services tailored to the Indian e-commerce sector.
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