Quess Corp has received approval from Board of Directors of the company to purchase food catering and facility management services business of Archer Integrated Services and Astrin Traders and Supplies as a going concern on a slump sale basis for a lump sum cash consideration, without values being assigned to individual assets and liabilities as contemplated under the Income Tax Act, 1961, on such terms and conditions as contained in the Business Transfer Agreements.
The acquisition enables the Operating Asset Management business of Quess Corp to geographically expand footprint of its food business in the manufacturing sector, particularly in key industrial belts of Tamil Nadu & Andhra Pradesh.
It will also empower the business team of Quess Corp to offer integrated solutions (facility management, housekeeping, pest control, landscaping, food services) in Tamil Nadu & Andhra Pradesh. The Board of Directors of Quess Corp at its meeting held on December 03, 2024 has, inter-alia, considered and approved the same.
Quess Corp is India’s leading business services provider and largest private-sector employer.
| Company Name | CMP |
|---|---|
| Quess Corp | 196.20 |
| SIS | 337.35 |
| TeamLease Services | 1250.10 |
| Bluspring Enterprise | 65.87 |
| Updater Services | 158.45 |
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