After picking up a significant stake in Zoom car, Mahindra & Mahindra has picked up a majority 55% stake in Meru cabs for a cash consideration of Rs 201 crore in a bid to participate in the growing shared mobility space. The first tranche of investment will be made in October of 2019, the company announced to Bombay Stock Exchange on Saturday night.
The first tranche of the deal, of a 36.63% shareholding, had been completed on 5 December, according to reports.
IndusLaw advised
Pioneer Legal advised selling shareholder
In October, Mahindra’s in-house team had handled an M&A transaction with Ford primarily in-house, assisted by Khaitan & Co and Cyril Amarchand Mangaldas on due diligence and competition law, respectively.
2019-10-01
Deal value: Rs 201 crore
This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.