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Dealipedia - Tech Mahindra Ltd acquires Hutchison Global Services

Tech Mahindra Ltd acquires Hutchison Global Services for $87.1 million

Deal Participants:
Acquiring Company: Tech Mahindra Ltd View Profile Charts Homepage
Target Company: Hutchison Global Services View Profile Charts Homepage
Deal Financials:
Price: $87.1 million
 
Date:
Announced: Sep 04, 2012

PRESS RELEASE

India’s Tech Mahindra Ltd. Tuesday said it has bought the local business-process-outsourcing unit of Hutchison Whampoa Ltd. for $87.1 million.

The deal also involves a $845 million technology-outsourcing contract for Tech Mahindra from the Hong Kong company.

In a statement, Tech Mahindra said it will acquire the entire stake of Hutchison Global Services Pvt. Ltd.

“This acquisition is in line with our growth plans and is a logical next step in extending our relationship with Hutchison,” Tech Mahindra Executive Vice Chairman Vineet Nayyar said in the statement.

Kotak Investment Banking was the financial adviser to Tech Mahindra, while Goldman Sachs advised Hutchison, the statement said.

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Warning: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/dealiped/public_html/deal_view_acquisition.php on line 746

Warning: date(): It is not safe to rely on the system's timezone settings. You are *required* to use the date.timezone setting or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected the timezone 'UTC' for now, but please set date.timezone to select your timezone. in /home/dealiped/public_html/deal_view_acquisition.php on line 746
Sep 04 '12
Sep 04 '12
This version submitted by Melg8Mike

 

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