Indian express logistics major TCI Express Ltd has completed the acquisition of TCI Global (Singapore) Pte Ltd for a consideration of SGD 18,000, the company said in a regulatory filing.
The acquisition involves the purchase of 100% equity shares of the Singapore-based entity, making it a wholly owned subsidiary of TCI Express. The transaction was executed at a nominal value, reflecting TCI Global Singapore’s limited operations.
TCI Express said the acquisition aligns with its strategy to strengthen its international presence and create a platform for expanding cross-border logistics and supply chain services in the future.
TCI Global Singapore is engaged in logistics-related activities, and the acquisition is expected to provide TCI Express with greater operational flexibility in overseas markets without having a material impact on the company’s financials.
TCI Express added that the deal does not fall under related-party transactions and does not require regulatory approvals.