FedEx Express to invest USD 100 million in Delhivery
FedEx Express India and Delhivery have entered into equity and commercial agreements.
FedEx Express, a subsidiary of leading global express transportation company FedEx Corp, will invest USD 100 million in the e-commerce logistics platform Delhivery. FedEx Express India and Delhivery have entered into equity and commercial agreements that will utilize their combined strengths to unlock India’s international trade potential.
The completion of this transaction is subject to closing conditions, including regulatory approval, a company statement said on Friday. As part of the collaboration, FedEx will make a USD 100 million equity investment in Delhivery, and the companies will enter into a long-term commercial agreement.
“India is a strategic priority for FedEx. This strategic alliance will support our long-term vision to grow our India business and serve customers seeking to expand in or enter the Indian market, as well as provide opportunities to develop product and technology solutions together with Delhivery for the benefit of our customers,” said Raj Subramaniam, President and Chief Operating Officer of FedEx Corp.
