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Zensar Tech to divestentire stake in Aquila Tech - The Hindu BusinessLine thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
Zensar Technologies Ltd arm to divest stake in Aquila Technology Corp
Posted On: 2021-02-25 08:49:31 (Time Zone: Arizona, USA)
The Board of Directors ( Board ) of Zensar Technologies Limited (the Company ) at its meeting held on February 25, 2021, has consented and authorised its wholly owned subsidiary, Zensar Technologies Inc. (a material subsidiary), to divest 100% of its equity shareholding, held by it in Aquila Technology Corp. ( proposed divestment ), subject to approval of relevant statutory, regulatory and/or governmental authority(ies), as may be required.
Zensar Technologies Inc. holds 100% of equity in Aquila Technology Corp ( Aquila ). PSI Holding Group Inc ( PSI ) a wholly owned subsidiary of Zensar Technologies Inc. was holding 100% of equity in Aquila till 31 October 2019. Effective November 2019, PSI distributed the stock of Aquila to Zensar Technologies Inc., pursuant to which Zensar Technologies Inc. holds 100% of equity in Aquila.