Financial Daily from THE HINDU group of publications
Wednesday, Sep 22, 2004
Financial Daily from THE HINDU group of publications Wednesday, Sep 22, 2004 |
||
|
|
||
|
Info-Tech
-
Mergers & Acquisitions HCL Tech to buy out Deutsche Bank stake in DSL Software Our Bureau
New Delhi , Sept. 21 HCL Technologies plans to buy out Deutsche Bank's 49 per cent stake in joint venture company DSL Software, with the valuation process expected to commence by the end of the month. "As per the agreement announced in September, 2001, HCL Tech would acquire the remaining 49-per cent stake in the joint venture at the end of three years, through issuance of HCL Technologies equity shares to Deutsche Bank," an HCL spokesperson said here. The spokesperson said that the valuation process would start after September 26, 2004, and the transaction would take about two months to close. HCL Technologies' Corporate Vice President - Strategy, Mr Saurav Adhikari, who is currently in US was unavailable for comments.As per the original terms of the agreement, Deutsche Software would have a right of first refusal for seven years on business that is to be sourced by Deutsche Bank from India.
More Stories on : Mergers & Acquisitions | Software
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|