Reliance acquire Logistics Services platform Grab in $15 million
RIL-arm Reliance Industrial Investments has entered into agreements to acquire logistics services platform Grab and software firm C-Square Info Solutions.
Reliance Industries, in a regulatory filing, said its wholly owned subsidiary Reliance Industrial Investments and Holdings has entered into an agreement for acquisition of equity shares of Grab A Grub Services Private Limited ('Grab') for a cash consideration not exceeding Rs 106 crore.
"RIIHL will further invest an amount of up to Rs 40 crore and is likely to be completed by March 2021. The total investment will translate into 83 per cent of equity capital in Grab on a fully diluted basis," RIL said.
"The aforesaid investment will further augment the group's digital commerce initiatives and strengthen its logistics services, ca...