Redington India today announced that Redington Gulf FZE (RGF), a step down subsidiary of the company, is entering into a definitive agreement to acquire 70 per cent stake in Turkey-based Linkplus.
Redington (India) Ltd has now informed BSE that 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 $5.75 million.
The balance 30 per cent shares will be purchased on equitable basis from CY15 to CY17 at a P/E multiple of 5X.
