Brief: Mastek Says UK Unit Sells Its Partial Stake In Majesco (USA)

Mastek

08/01/2020 06:25

Jan 8 (Reuters) - Mastek Ltd  MAST.NS :
    * MASTEK (UK) LIMITED, MATERIAL WHOLLY OWNED SUBSIDIARY OF
COMPANY
- SELLS ITS PARTIAL STAKE IN MAJESCO (USA)
    * SALE TO DRIVE GROWTH STRATEGY
    * SELLS ITS PARTIAL HOLDING OF 824,500 SHARES IN MAJESCO
(USA) FOR
CASH CONSIDERATION OF USD 6.49 MILLION
    * SALE IN OPEN MARKET ON NASDAQ ON JANUARY 7
    * AFTER COMPLETION OF AFORESAID PARTIAL STOCK SALE, STAKE OF
MASTEK (UK) IN MAJESCO (USA) WILL STAND REDUCED TO 2.2 MILLION
SHARES

Source text for Eikon:  ID:nBSEc14SpF 
Further company coverage:  MAST.NS 

 ((Reuters.Briefs@thomsonreuters.com;))