Redington arm acquires majority stake in Turkey's Linkplus

Technology product distributor Redington (India) Ltd today said its step down subsidiary Redington Gulf FZE (RGF) has completed acquisition of 70 per cent stake in Turkey's Linkplus for a consideration of USD 5.75 million.
"The company have received a communication from RGF that they have obtained the requisite approvals and have completed the acquisition of 70 per cent stake in Linkplus for a consideration of USD 5.75 million," Redington (India) Ltd said in a BSE filing.
It further said: "The balance 30 per cent shares will be purchased on equitable basis from calender year 2015 to calender year 2017 at a P/E multiple of 5X."

In October this year, Redington Gulf FZE entered into a definitive agreement to acquire 70 per cent stake in Linkplus Bilgisayar Sistemleri Sanayi ve Ticaret A.S, Turkey (Linkplus).