Tata Group sells controlling stake in
Tata Infomedia to ICICI Venture
September 1, 2003
Mumbai:
Tata Sons and other Tata companies have entered
into a agreement to sell its controlling stake
of 49.99 per cent in Tata Infomedia to ICICI ePayments,
wholly owned by India Advantage Fund at a price
of Rs 176 per share. Ishaat Hussain, finance director
of Tata Sons and Renuka Ramnathan, CEO, ICICI
Venture, signed the agreement in Mumbai, on September
1, 2003. DSP Merrill Lynch was the investment
banker and CZB & Partners was the legal adviser
to the Tata companies. The above transaction will
be completed as per the provisions of the SEBI
takeover code.
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