New Delhi, Dec 16 (PTI) IT major Tech Mahindra will sell its entire stake in its Netherlands-based subsidiary Dinacommerce Holdings BV to its spin-off subsidiary Comviva Netherlands for around Rs 58 crore, the company said in a regulatory filing.
The deal is expected to be signed during the first week of January 2023, and the transaction is expected to close around the same time.
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“We wish to inform you that the Company has approved the sale of 100 percent stake in Dinacommerce Holdings BV, a wholly-owned subsidiary of the Company, to Comviva Netherlands BV, a withdrawing subsidiary of the Company,” Tech Mahindra said in the filing.
Tech Mahindra will get 6.6 million euros, or about 58 million rupees, from the deal, the filing said.
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