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Infosys rises 2% as it decides to acquire controlling stake in a Dutch firm

Infosys will acquire 75 percent of the shareholding in Stater N.V., a wholly owned subsidiary of ABN AMRO Bank N.V.

March 28, 2019 / 12:16 PM IST

Shares of IT major Infosys rose more than 2 percent intraday on March 28 after the company said it will make an investment in a Dutch firm.

Infosys will acquire 75 percent of the shareholding in Stater N.V., a wholly owned subsidiary of ABN AMRO Bank N.V, the company said in press release.

ABN AMRO will continue to hold the remaining 25 percent of the shareholding.

Stater is a market leader in the Benelux region, operating across the mortgage and consumer lending value chain with deep capabilities in digital origination, servicing and collection.

Mohit Joshi, President, Infosys, said, “This transaction strengthens our approach to offer clients digital platforms and industry-focused solutions. It brings together our complementary capabilities to enhance the value we offer to our financial services clients."

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"We are excited to welcome Stater’s talented team to the Infosys family, thereby enhancing our presence in Europe,” he added.

At 1148 hours, Infosys was quoting at Rs 739.75, up Rs 10.70, or 1.47 percent on the BSE.

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Moneycontrol News
first published: Mar 28, 2019 12:16 pm
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