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Jan 08, 2007, 01.07 PM IST
CNBC-TV18 has learned that Kishore Biyani's Future Logistics is close to announcing a domestic acquisition. The company is said to be in talks with Patel Integrated Logistics and is likely to buy a majority stake in the company, say sources.
CNBC-TV18 has learned that Kishore Biyani's Future Logistics is close to announcing a domestic acquisition. The company is said to be in talks with Patel Integrated Logistics and is likely to buy a majority stake in the company, say sources.
Patel Integrated recently merged Patel Roadways with itself and Patel On-Board Courier. Post merger, the management holds 57% in the company. But sources say the management is likely to offload 30-35% stake for Rs 100 crore. But the management could not be reached for comments on the same.
CNBC-TV18 Disclaimer: This information has not been provided to the stock exchanges, and is source-based.
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The two companies are likely to sign the term sheet this week, they add. The deal will be funded by Indivision, the PE arm of 
