Stock tips- Mahindra Logistics gets the nod to make an additional investment in Lords Freight
Mahindra Logistics has received an approval to make an additional investment its subsidiary company -- Lords Freight (India) by way of purchase of 205,200 equity shares of Lords (representing 8.69% of equity share capital of Lords) from the existing Shareholders of Lords. The Board of Directors of the company at its meeting held on August 2, 2018, approved the same.
Consequently, share purchase agreement and other related documents have been executed between the company and respective selling shareholders of Lords. On completion of the said purchase, the company’s shareholding in Lords would increase from 60% to 68.69%.
Mahindra Logistics provides logistics solutions, warehousing facilities, freight forwarding and supply chain management services. It also provides people with transport solutions, a specialized line of business which helps corporate clients move employees to and from the workplace.
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