TVS Logistics and Future Supply Chain Solutions both want to acquire Vulcan Express

TVS Logistics, India's leading third-party logistics player, and Future Supply Chain Solutions, promoted by Future Group and owned by Kishore Biyani, are both willing to acquire Vulcan Express, the logistics unit owned by New Delhi-based ecommerce firm Snapdeal.

Both parties are presently holding independent talks with Snapdeal and Vulcan Express’s parent company Jasper Infotech, so that they can either acquire or pick up a majority stake in the three-year-old venture.

The value of the apparent deal could not be estimated.

However, the race to acquire Vulcan doesn’t only involve these two leading players. Two private equity firms, which specialise in buyout deals, are also aiming to get hold of the logistics unit.

Whoever the buyer is, the deal would be closed before July, which is when the GST rolls out, said ET sources.

The development has come at a time when Snapdeal's investors, led by Japan-based SoftBank Corp, are looking to sell it to rival ecommerce firm Flipkart in a deal estimated to be worth about $1 billion. Snapdeal’s digital payments platform FreeCharge is also up for sale and players like Flipkart, Paytm and Mobikwik are all bidding for it.

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