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Spice Mobility’s arm divests its entire 26% stake in Vavia

26 Aug 2016 Evaluate

Spice Mobility’s subsidiary - Spice Digital (SDL) has divested its entire equity stake constituting 26% of share capital in Vavia Technologies (Vavia) pursuant to a share purchase agreement entered into by them. Consequent to this, Vavia has ceased to be an associate of the company.

Recently, SDL had acquired further 3.07% stake in Sunstone Learning, an associate of the company. Consequent to the said acquisition, stake of SDL in Sunstone Learning had increased from 38.54% to 41.61%.

Spice Mobility is engaged in manufacturing mobile phones. Its products include smart devices, smart phones, networking phones, feature phones and archived phones. Spice Mobility operates as a subsidiary of Spice Group.



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