M&A

M&A

Mastek to raise stake in Trans American Info Systems unit

BSE Announcement   Business Line  

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.