Corporate News 20-Dec-23
Mahindra Logistics to divest its 39.79% stake in Transtech Logistics
Mahindra Logistics has today entered into a Share Purchase Agreement with Transtech Logistics (TLPL) an associate of the Company and the Promoters of TLPL, for sale/transfer of the 39.79% stake held by the Company in TLPL i.e., 100 equity shares of Rs. 10 each and 65,988 Compulsorily Convertible Preference Shares of Rs. 50 each, for a consideration of Rs. 1,32,176/- to be discharged by the Promoter of TLPL in cash to the Company, on the terms and conditions more specifically defined in the Agreement.
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