Page 35 - The Indian EYE 010121

Business EYE JANUARY 01, 2021 | The Indian Eye 35

BUSINESS BRIEFS

tCs acquires Postbank reliance Infra sells delhi-

systems from deutsche agra toll road to Cube

bank ag highways

ata Consultancy Ser- “The acquisition was to be nil Ambani-led Reli- Highways.
vices (TCS) said on Fri- completed by year-end 2020 ance Infrastructure Ltd “This has now been com-
Tday it has completed subject to customary regula- Aon Friday announced pleted with transfer of shares of
the acquisition of 100 per cent tory and governmental ap- successful completion of 100 the DA Toll Road Pvt Ltd and
shares of Postbank Systems provals. This is to inform you per cent stake sale in the Del- receipt of sale consideration,”
(PBS) from Deutsche Bank AG. that the aforesaid acquisition hi-Agra toll road to Cube High- R-Infra said in a statement.
PBS is an IT service com- of Postbank Systems AG has ways and Infrastructure III Pte
pany that provides project been completed today,” TCS Ltd for an enterprise value over Cube highways and In-
management, application said in regulatory filings at Rs 3,600 crore.
management and infrastruc- stock exchanges. The entire sale proceeds frastructure III Pte Ltd is
ture support services to Post- The transaction will see are being utilised for debt re- a singapore-based com-
bank and other subsidiaries of the employees of PBS become duction. R-Infra said it has re- pany formed by glob-
Deutsche Bank. PBS has 1,500 a part of Mumbai-based IT duced its total debt liabilities by
employees across nine loca- software major. In an earlier about 20 per cent from the deal al Infrastructure fund
tions in Germany. statement, TCS had said 100 proceeds from Rs 17,500 crore I squared Capital and a
TCS had announced to per cent of the shares will be to Rs 14,000 crore.
acquire Postbank Systems in acquired by TCS Netherlands The deal was announced in wholly-owned subsidiary
November through its subsid- BV and the estimated trans- March 2019 with the signing of of the abu dhabi Invest-
iary Tata Consultancy Services action value at a symbolic one a definitive binding agreement ment authority.
Netherlands BV. euro. between R-Infra and Cube

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