India: Ramco Cements has received board approval to sell its entire stake in its transport subsidiary Lynks Logistics. CNBCTV18 News has reported that the producer plans to execute a share subscription and purchase agreement with food delivery service operator Bundl Technologies.
Ramco Cements originally invested in a 46% stake in Lynks Logistics for US$700,000 in January 2020. It enlarged its stake to 69% for US$273,000 in September 2020.