Redington (India) shares jumped after the company informed the BSE that its subsidiary, Redington Gulf FZE, has entered into a definitive agreement to acquire 70% of Turkey firm Linkplus. PTI
Redington (India) shares jumped as much as 4 per cent in morning trade on Wednesday after the company informed the BSE that its subsidiary, Redington Gulf FZE, has entered into a definitive agreement to acquire 70% of Linkplus Bilgisayar Sistemleri Sanayi ve Ticaret A.S, Turkey (Linkplus).
At 11.24 am, Redington (India ) shares were up 4.54 per cent at Rs 119.85 on BSE. Sensex was trading 86.40 points up at 27,019.28 during the same time.
The proposed acquisition is subject to regulatory approvals of authorities in Turkey.
Established in 1995, Linkplus is a leading ORACLE Distributor in Turkey. The balance 30% will be acquired over a 3 year period. The Company has been valued around 6X future earnings.
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