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Japanese logistics company Nippon Express Co. Ltd is in talks to buy a stake of about 43% in TVS Logistics Services Ltd from existing private equity (PE) investors KKR and Co. Lp and Goldman Sachs Group Inc., according sources. The deal size is expected to be Rs.1,670 crore, valuing TVS Logistics at Rs.3,800 crore. The transaction will give KKR and Goldman an opportunity to exit in the backdrop of TVS Logistics delaying plans for an initial public offering (IPO) until next year.
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