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Infosys to buy 75% stake in ABN AMRO's mortgage services arm for $143.5 mn

ABN AMRO will continue to hold the remaining 25 per cent stake in Stater, which operates in the Netherlands, Belgium and Germany

Reuters 

Infosys to buy 75% stake in ABN AMRO's mortgage services arm for $143.5 mn

Ltd, India's second-biggest IT services company, said on Thursday it would buy a 75 per cent stake in Group NV's mortgage administration services unit for 127.5 million euros ($143.53 million).

will acquire the stake in through unit Consulting Pvt Ltd and the transaction is expected to close in the first quarter of fiscal 2020.

This is in line with Infosys' strategy to strengthen its mortgage servicing capabilities in Europe, the company said in a statement.

will continue to hold the remaining 25 per cent stake in Stater, which operates in the Netherlands, and

Infosys had gained 1.6 per cent by 0728 GMT, while the broader market was up 0.58 per cent.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Thu, March 28 2019. 13:15 IST
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