Sify Technologies today said it has reached a deal to sell its entire stake in MF Global Sify Securities India in an all-cash deal.
According to the terms of the agreement entered with MF Global Sify Securities India, MF Global Overseas and Phillip Capital Group, the Singapore-based financial services company through its related firms will buy a majority stake in MF Global Sify Securities India, Sify said in a statement.
The transaction is subject to regulatory and statutory approvals in the respective countries, it added.
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