Connect with us

Hi, what are you looking for?

News

Infosys gets majority stake in ABN Amro subsidiary

ABN Amro’s wholly-owned subsidiary Stater will now 75% owned by Indian IT services firm Infosys. The company will pay 127.5 million euros for the stake. The two entities have signed an agreement in this regard. Founded in 1997, Stater provides end-to-end mortgage administration services in the Netherlands, Belgium and Germany. ABN Amro will continue to hold the remaining 25%. Infosys had said the stake acquisition is in alignment with the company’s strategy to strengthen its mortgage servicing capabilities in Continental Europe. The transaction is expected to close during the first quarter of fiscal 2020, subject to customary closing conditions, it added. The current management team of Stater will continue to steer the company.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

PR Newswire

Copyright © Glocal Infomart Pvt Ltd. All rights reserved. Usage of content from website is subject to Terms and Conditions.