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Future Logistics eyeing desi acquisition?
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.
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 Pantaloon Retail , 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.
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 
