The Board of Infibeam Avenues at its meeting held on 11 February 2021 has noted the following:
Due to macroeconomic and their short-term financial commitments, Osia Hyper Retai (Osia) is unable to fulfill its obligations under the Term Sheet. Accordingly, Osia has withdrawn its proposal to acquire 51% ownership with control in Infibeam Logistics. With the said withdrawal, Infibeam Logistics continues to remain a wholly owned subsidiary of the Company.
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