HCL Infosystems has received an approval for sale of CARE Business, a division of HCL Services (Wholly owned subsidiary). The board of directors at its meeting held on January 31, 2018 has approved for the same.
CARE Business division shall first be transferred by HCL Services to HCL Computing Products (HCPL) on slump sale basis as a going concern under a Business Transfer Agreement (BTA). After completion of Slump sale of the CARE Business into HCPL, the entire shareholding of HCPL held by the company shall be sold to Quess Corp, the buyer, a listed Public Limited company under a Master Agreement (MA).
The total consideration for transaction is Rs 30 crore. The closure of transaction is subject to certain conditions listed out in BTA and MA. The transaction is expected to be completed by April 30, 2018.
HCL Infosystems is one of India’s premier IT Services, Distribution and Digital Solutions Company, enabling organizations to attain and sustain competitive advantage by leveraging Information and Communication Technologies.
Company Name | CMP |
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Redington | 221.65 |
Adani Enterprises | 3215.65 |
Amrapali Industries | 13.91 |
Rashi Peripheral | 338.00 |
Compuage Infocom | 3.38 |
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