Mahindra Logistics acquires Meru Cabs from Mahindra & Mahindra

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 1,305.9 crore and includes stake buys of the three arms of Meru Travel Solutions Private Limited. 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 three of its subsidiaries — Meru Mobility Tech Private Limited, V-Link Fleet Solutions Private Limited and V-Link Automotive Services Private Limited.

MLL, which is a third-party logistics company, is a 58.34 per cent subsidiary of M&M.