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Mergers & Acquisitions | 5 November 2012

HCL, TCS Plan To Buy Indian IT Arm Of Belgian Group - KBC

by Charmi Gutka
HCL, TCS Plan To Buy Indian IT Arm Of Belgian Group - KBC
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Belgian banking firm, KBC Group, is in talks to sell its India based offshore IT arm, that is under Valuesource Technologies, and TCS and HCL have been identified as potential buyers by ET.

The unit, located in Chennai, could be sold for around $25 Mn with a revenue commitment of 5-7 years from KBC.

It has 300 employees and operates in the field of application development and maintenance work along with BPO activities like credit processing.

KION Group Fully Acquires Voltas Material Handling

KION Group Fully Acquires Voltas Material Handling

Voltas Limited has divested the remaining 34% stake comprising 50,000 shares in Voltas Material Handling Private Limited to KION Group's Linde Material Handling Asia Pacific for R58 Cr.

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Aviva PLC, buys an additional 23 per cent in Indian venture

Aviva PLC, buys an additional 23 per cent in Indian venture

Aviva PLC, buys an additional 23 per cent stake in its Indian joint venture, Aviva Life Insurance Co. India Ltd., for about Rs 940 crore from Dabur Invest Corp. The transaction values Aviva Life at nearly Rs 4,087 crore. The deal was made in one of the foreign direct investment (FDI) proposals green-signaled by the government on7th March. Post the deal, Aviva Plc’s stake has reached to 49 per cent in the joint venture, the country's maximum permitted foreign direct investment limits.

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