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NIIT Tech completes divestment of stake in Esri India Technologies

Press Trust of India  |  New Delhi 

IT firm Technologies said Monday it has concluded the sale of its stake in Technologies.

In April, Technologies had said it will sell its entire 88.99 per cent stake in Technologies Ltd to Environmental Systems Research Institute, Inc (Esri, Inc).

"...the company today concluded the sale of 88.99 per cent equity shares in Technologies Ltd, India to Environment Systems Research Institute Inc., USA. Consequent to above sale, ESRI India Technologies Ltd, India shall cease to be subsidiary of the company with immediate effect," a regulatory filing said.

In its April notification, Tech had said the total consideration of the deal will be Rs 89.7 crore.

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

First Published: Mon, May 13 2019. 22:01 IST