Financial Technologies (India) Ltd (FTIL) Monday informed the bourses that the board of its wholly owned subsidiary FT Group Investments has approved selling all its stakes in Bourse Africa Ltd, Mauritius, for $40.5 million.
The deal includes Bourse Africa's wholly owned subsidiary Bourse Africa Clear Ltd.
According to FTIL, the buyer of the two companies is Continental Africa Holdings Ltd, Mauritius and the sale transaction is subject to approvals in India and Mauritius.
The FT Group Investments signed the definitive agreement Nov 17 with Continental Africa Holdings and the deal is expected to be completed within the next 210 days.