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| Exchange Disseminated Time 16/01/2017 16:12:13 | TeamLease Services Ltd has informed BSE that on January 16, 2017 the Company has signed a definitive agreement to acquire 100% shares in Keystone Business Solutions Private Limited, a company incorporated under Companies Act, 1956 through its wholly owned subsidiary, TeamLease Staffing Services Private Limited.
The proposed acquisition does not fall within Related Party Transaction and the promoters of the Company have no interest in the entity proposed to be acquired.
The consideration involved in the transaction is Rs. 8.2 crores payable in cash.
Keystone Business Solutions Private Limited was incorporated on June 25, 2009 which offers IT staffing solutions. It operates through its registered office situated in Bangalore, India.
The indicative time period for completion of the acquisition is on or before January 31, 2017. |
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