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HCL Tech’s arm to divest 49% stake in JV with State Street International Holdings

03 Apr 2024 Evaluate

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.

HCL Technologies Share Price

1139.85 62.35 (5.79%)
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