M&A M&A
Mastek to raise stake in Trans American Info Systems unit
Source Business Line (opens in a new tab)BSE Announcement (opens in a new tab)
Publicly listed Mastek is to acquire 5,826 compulsorily convertible preference shares (CCPS) of Trans American Information Systems (TAISPL, a Mastek subsidiary) constituting 3.88% of the preference shareholding, for cash. It will also acquire 44,174 CCPS of TAISPL constituting 29.45 % of the preference shareholding of TAISPL from certain major shareholders, employees and associates for aggregate purchase consideration of INR 218.51 crore.