Linc Limited (BSE:531241) agreed to acquire 60% stake in Gelx Industries Limited for $0.5 million on April 5, 2023. Linc will pay cash of $100 and $0.5 million of line of credit. Under the terms Linc Limited will acquire 25,694,400 shares. The transaction is subject to Approval from Competition Authority of Kenya. The transaction is expected to complete in 4 months. As of August 1, 2023, antitrust approval was obtained.

Linc Limited (BSE:531241) completed the acquisition of 60% stake in Gelx Industries Limited on October 3, 2023.