TCI Express to Acquire TCI Global (Singapore) Pte. Ltd. for Up to SGD 18,000

TCI Express Ltd. has announced its decision to acquire 100% equity shares of TCI Global (Singapore) Pte. Ltd. from TCI Holdings Asia Pacific Pte. Ltd. The acquisition is being undertaken considering the operational synergies, business complementarities, and potential for long-term value creation. The acquisition will be done at an arm's length basis and the cost of acquisition is up to SGD 18,000. TCI Global (Singapore) Pte. Ltd. is engaged in the business of transport, logistics, and related services and was incorporated in 2006 in Singapore. The acquisition is subject to all requisite approvals, consents, and permissions as may be required under the applicable laws, rules, and regulations.