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FedEx Express and Delhivery announced the strategic alliance transaction signed in July has taken effect, following regulatory approval from the Competition Commission of India. In July FedEx Express, a subsidiary of FedEx Corp. had announced that it will invest $100 million in logistics and supply chain services company Delhivery for an undisclosed equity stake.
“India is a strategic priority for FedEx. We are excited about our long-term vision to grow our business in India, and our continued role to serve customers seeking to expand in or enter the Indian market” said Don Colleran, President and CEO of FedEx Express. “With this transaction, FedEx Express brings decades of experience as a global leader in logistics together with Delhivery’s Indian footprint and technology solutions.”
Don Colleran, President and CEO of FedEx Express will be nominated to the Delhivery Board of Directors, further strengthening the close working relationship between the two companies.
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