Ritco Logistics has agreed to acquire through buying the 7600 equity shares of promoters of Logro Sourcing being 76% of the paid-up equity of the company. The transaction will make Logro Sourcing subsidiary company of Ritco Logistics. The object of the proposed purchase/ acquisition is strategic long term investment. The said investment in Logro is not outside the main line of business of the company.
Ritco Logistics is engaged in the business of providing goods transport service along with warehousing facilities.
