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HCL Infosystems concludes sale of step down subsidiary - HCL Insys

Capital Market 

HCL Infosystems announced that its subsidiary, HCL Learning has concluded the sale of entire shareholding of its wholly owned subsidiary HCL Insys, Singapore on 15 November 2019 to PCCW Solutions, Hong Kong for a consideration of SGD 57,628,787.

The investment of HCL Insys, in its subsidiary, namely Nurture Technologies FZE (formerly known as HCL Infosystems MEA FZE) was excluded from the transaction along with the trading business carried out by HCL Insys which was carved out before transfer of the entity.

Both were transferred to HCL Investments, a wholly owned step down subsidiary of HCL Infotech.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, November 15 2019. 16:08 IST