Redington International Mauritius (RIML), wholly owned overseas subsidiary of Redington (India), intends to purchase 25.97% shares of its subsidiary Redington International Holdings (RIHL), from Investcorp (IVC), a private equity investor. The proposed share purchase is carried out through a Share Purchase Agreement entered with IVC on December 13, 2011 and expected to be completed in a three months’ time.
Following this purchase of shares, RIML’s shareholding in RIHL will move to 95.56% and the balance is held by employees of Redington group.
Earlier in November, Redington India’s wholly owned subsidiary Cadensworth (India) entered into a strategic relationship with EMC Data Storage System (India), a leading provider of information infrastructure solutions.
Redington (India) engages in the business of vendor-authorized end-to-end supply chain management of information technology (IT) hardware and software products. The company distributes a range of IT products, such as networking, storage, and enterprise products, as well as servers and software solutions.
