TCI Express’ arm gets nod to acquire 100% equity shares in TCI Global (Singapore) Pte
TCI Express intends to strengthen and expand its operational presence in the Singapore region
TCI Express has received approval from Board of Directors for acquisition of 100% of the equity shares of TCI Global (Singapore) Pte by TCI Express Pte., a wholly owned subsidiary of TCI Express.
The proposed acquisition is being undertaken considering the operational synergies, business complementarities, and potential for long-term value creation for the company and its stakeholders.
TCI Express intends to strengthen and expand its operational presence in the Singapore region. In line with this objective, it is proposed to acquire TCI Global (Singapore) Pte., as this approach is expected to enable a faster execution process and offer a more cost-effective means of establishing a strong regional foothold compared to setting up a new entity.
TCI Express is engaged in offering transport, storage, warehousing and support services for transportation.
