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Board of Patel Integrated Logistics approves divestment of its surface transport business

Capital Market 

At meeting held on 18 April 2019

The Board of Patel Integrated Logistics at its meeting held on 18 April 2019 has approved the sale and transfer of Company's surface transport business carried on in a division called 'Patel Roadways' on a going concern basis by way of Slump sale to Innovative Logistics Service, Wholly owned subsidiary of Stellar Value Chain Solutions upon terms and conditions contained in the business transfer agreement being entered between the Company and Purchaser subject to customary closing adjustments.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, April 18 2019. 14:23 IST