HCL Technologies’ (HCL Tech) step-down wholly owned subsidiary -- HCL Investments UK (HCL UK) has entered into a pact with US company and joint venture partner State Street International Holdings to divest its entire 49% holding in their JV.
The proceeds received by HCL UK, for divestment of the JV, termination of agreement for related services and settlement of certain contractual commitments, is $172.5 million in addition to net book value on the completion date (less applicable withholding tax). The transaction was completed effective April 1, 2024.
HCL Technologies is a leading global IT services company that helps global enterprises reimagines and transforms their businesses through digital technology transformation.
