GoMechanic, a car servicing startup acquired by Lifelong group led consortium in slump sale
A consortium formed by auto component manufacturer Longevity Group has bought troubled automotive startup...
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A consortium formed by auto component manufacturer Longevity Group has bought troubled automotive startup...
The Delhi-based company also added that, The Servizzy consortium will be led by the Lifelong Group and was the strongest bidder in the process for the acquisition based on the terms and conditions contained in the agreement.
(Reuters) - Troubled Indian car service and repair startup GoMechanic has been acquired by a consortium led by Lifelong Group, the auto parts firm said on Wednesday. | 03:06am
Financial details of the transaction were not disclosed.
GoMechanic had been hunting for a buyer for the last two months, after it laid off 70 per cent of its workforce and admitted to financial fraud in January