Tata Capital to Acquire a Minority Stake in TVS Logistics Services (Asia)
Source: TVS Logistics Services, Tata Capital, VCCircle | Author(s): Shruti Ambavat
Tata Capital, the private equity arm of Indian conglomerate Tata Group, has agreed to acquire a minority stake in India-based third-party logistics provider TVS Logistics Services. The transaction is reportedly valued at up to INR2.5 billion (approximately US$39 million), and will be structured through Tata Opportunities Fund. The investment will fund TVS’s acquisition of Drive India Enterprise Solutions, an India-based warehousing company currently owned by Tata Group. The transaction is subject to Competition Commission of India approval and requisite regulatory clearances.