Mahindra to acquire Rivigo’s B2B express biz for Rs 225 crore in slump sale

Mahindra Logistics has acquired the business-to-business (B2B) express unit of logistics startup Rivigo in a slump sale for Rs 225 crore.

The deal is expected to close on or before November 1, according to a regulatory filing to the BSE.

Under the agreement, Mahindra Logistics will acquire the express business through a business transfer agreement (BTA), including the customers, team, and assets of Rivigo’s B2B express business, its technology platform, and the overall brand.