BPEA Acquires 30% Shares of NIIT Tech
Baring Private Equity Asia ("BPEA") acquires 30% Stakes (18.85 million shares) of NIIT Technologies Limited from NIIT Limited.
The cost of this deal is INR 1394 per share. The deal size is around $381 million.
In a filing with the Securities and Exchange Board of India Regulations, BPEA will also make an offer to other shareholders of NIIT Technologies to purchase 26% additional shareholding at a price of INR 1394 per share value up to approximately $709 million based on ownership of approximately 56% stake(controlling stake).
This transaction is conditional upon customary conditions, including receipt of required regulatory approvals, including anti-trust and competition clearances from Competition Commission of India.
Rajendra Pawar, Chairman, NIIT Technologies Limited, s...