Corporate News 03-Aug-18
Board of Mahindra Logistics approves additional investment in subsidiary
At meeting held on 02 August 2018
The Board of Mahindra Logistics at its meeting held on 02 August 2018 has approved additional investment in Lords Freight (India), a Subsidiary Company ('Lords') 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. 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%.
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