Infibeam Avenues has acquired 100% stake of Vavian International, a Company formed and registered in Dubai from Infibeam Global EMEA FZ-LLC, the wholly owned subsidiary of the Company and hence, Vavian International will become direct wholly owned subsidiary of the Company.
A binding Memorandum of Understanding (MoU) has been signed between Infibeam Global EMEA FZ-LLC, the wholly owned subsidiary of our Company and Unipropitia - FZCO wherein the Unipropitia Group will invest in Infibeam Global EMEA FZ-LLC for an aggregate consideration not exceeding $25 million with Control on signing of the MoU.
Infibeam Avenues is engaged in providing online retail services.
