Financial Daily from THE HINDU group of publications
Wednesday, Dec 29, 2004
Financial Daily from THE HINDU group of publications Wednesday, Dec 29, 2004 |
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Info-Tech
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Announcements HCL Tech completes buy-out Our Bureau
NEW DELHI: HCL Technologies Ltd said on Tuesday that it has allotted 1.93 crore fully paid-up equity shares to Deutsche Bank AG (DBAG), in consideration for acquiring 4,900 issued and outstanding shares of DSI Financial Solutions, Singapore, representing a 49 per cent stake in DSI. HCL Technologies informed BSE that "the company has allotted 19,358,989 fully paid up equity shares of Rs 2 each at a price of Rs 361 per share (including Rs 359 per share as share premium) to Deutsche Bank AG, in consideration for acquiring 4,900 issued and outstanding shares of DSI Financial Solutions Pte Ltd, Singapore representing 49 per cent stake in DSI." The issue of shares by HCL Technologies is in terms of its joint venture agreement with DB dated September 2001 and it constitutes the purchase consideration for acquiring the balance 49 per cent stake in DSI Financial Solutions Pte Ltd (DSI), Singapore, which until now was held by DB. At the conclusion of this transaction, DSI and its wholly owned subsidiary DSL Software Ltd, will become wholly-owned subsidiaries of HCL.
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