Logistec Corporation (TSX:LGT.B) on May 19, 2023 said its principal shareholder, Sumanic Investments Inc., informed the board of its interest in considering a partial or whole sale of its stake in the company. The cargo-handling company said Sumanic also informed the board of its desire for the company to initiate a process to pursue a strategic transaction in the interest of shareholders in order to maximize shareholder value. The board has formed a special committee of independent directors to consider the request to review strategic alternatives, including a potential sale, and make recommendations to the board, Logistec said.

Sumanic controls about 78% of the company's voting rights, according to Logistec's website.