PIB News Update: The Competition Commission of India (CCI) approves the secondary acquisition in Delhivery Private Limited (DPL) by SVF Doorbell (Cayman) Ltd. (SVFD),under Section 31(1) of the Competition Act, 2002.The proposed transaction entails secondary acquisition of up to 3.28% of the issued and paid up share capital of DPL on a fully diluted basis by SVFD. Subsequent to this acquisition, SVFD will hold up to approximately 25.72% the issued and paid up share capital of DPL.
SVFD is a holding company set up to hold its proposed investment in DPL on behalf of SoftBank Vision Fund L.P., a venture capital fund focused on making long-term financial investments in companies.
DPL is engaged in the market for provision of third party logistics (3PL) services in India. As part of its logistics services, DPL provides transportation,warehousing, freight services and overall fulfillment services to various customers. DPL’s logistics services are provided to enterprises or persons who operate across different business models and are present across the value chain(big brands, small and medium enterprises, e-commerce platforms) etc..
Detailed order of the CCI will follow.