Asset Acquisitions and Disposals::Sale of two step-down subsidiaries

Issuer & Securities

Issuer/ Manager
3I INFOTECH LIMITED
Securities
3IINFOTECH US$2.435MCB170726 - XS0308551166 - 3JDB
3IINFOTECUS$125.356M5%CB170426 - XS0769181982 - 2CCB
Stapled Security
No

Announcement Details

Announcement Title
Asset Acquisitions and Disposals
Date &Time of Broadcast
24-Dec-2014 17:50:27
Status
New
Announcement Sub Title
Sale of two step-down subsidiaries
Announcement Reference
SG141224OTHRJUZQ
Submitted By (Co./ Ind. Name)
3i Infotech Limited
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
3i Infotech (Western Europe) Group Limited, a step down subsidiary of the Company, has signed an agreement to sell 3i Infotech (Western Europe) Limited and 3i Infotech (Flagship-UK) Limited (hereinafter together referred to as 3i Infotech Western Europe ) to Objectway Financial Software, which is a leading provider of wealth management and digital software solutions in EMEA. This sale is in line with the group s strategy to sell its non-core assets / investments and use the additional cash generated from such sale to deleverage its balance sheet and for business purpose.

3i Infotech Western Europe provides investment management software solutions to midmarket UK firms.

Attachments

intimation.pdf
Total size =129K