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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.
“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. PTI PRS MR
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