How True North’s long bet on Meru is deep underwater as M&M takes the wheel

By Ranjani Raghavan

  • 04 Sep 2019
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Credit: 123RF.com

Private equity investor True North is staring at a potential haircut in one of its oldest remaining portfolio companies, Meru Cabs, as it gives up majority stake in the firm to automobile giant Mahindra & Mahindra Ltd (M&M). M&M struck a deal last weekend to pick up a 55% stake in ......

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