Tech Mahindra to acquire 70% stake in Perigord

Tech Mahindra has received the approval of the Investment Committee of the Board of Directors of the Company for proposed acquisition of 70% equity shares in Perigord Asset Holdings (Perigord) directly and indirectly through its wholly owned subsidiary viz. Mahindra Engineering Services (Europe).

Perigord specializes in end to end, packaging supply chain solutions to the Life Sciences Industry such as Packaging Artwork & Labelling Services, Strategic Consultancy, Creative and Digital, Strategic Outsourcing, Managed Services and Software Solutions.

Tech Mahindra will acquire the Indian subsidiary of Perigord namely Perigord Data Solutions India and Perigord Premedia (India). Mahindra Engineering Services (Europe) will acquire the other legal entities of Perigord.

 

The transaction entails payment of Euro 21 million upfront for 70% shares and balance 30% shares will be acquired over next four years at valuation linked to financial performance of the company.

The transaction is expected to close by 19 March 2021.

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