Mahindra Logistics announced that the purchase of 22,500 (constituting 0.952%) equity shares of Lords Freight (India) (subsidiary of the company) could not be completed on account of certain transactional and health issues at the Transferor's end. Given the situation, it is difficult to ascertain an indicative timeline for completion of the purchase formalities of the balance 0.952% of Lords and consummation of the said transaction.
The Company currently holds 82.922% in Lords and objective of the purchase was to further consolidate the Company's Shareholding in Lords.
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