Mortgage News

Infosys completes acquisition of 75% stake in ABN AMRO Bank subsidiary Stater – Firstpost

IT services major Infosys Friday said it has completed the acquisition of 75 per cent shareholding in ABN AMRO Bank’s wholly-owned Stater NV. In March, the country’s second largest IT services firm had said it will acquire 75 per cent stake in Stater for 127.5 million euros (about Rs 989 crore).

India’s second largest IT services firm infosys Thursday said it will acquire 75 per cent stake in ABN AMRO Bank’s wholly-owned subsidiary, Stater, for 127.5 million euros (about Rs 989 crore).

Infosys completes acquisition of 75% stake in ABN AMRO bank subsidiary stater Updated : May 24, 2019 01:07 PM IST In March, the country’s second largest IT services firm had said it will acquire 75 percent stake in Stater for 127.5 million euros (about Rs 989 crore).

Infosys has completed its previously announced acquisition of a 75% stake in ABN AMRO Bank subsidiary Stater. Stater provides end-to-end mortgage administration services across the Netherlands, Belgium and Germany. It operates across the mortgage and consumer lending value chain including loan origination, servicing and collection.

Infosys Ltd on Friday said it will recruit 18,000 people from campuses this fiscal year 2019-20. The country’s second largest IT company has been battling high attrition rate pertaining in the sector.

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71 crore in the Consolidated Statement of Profit and Loss. Consequent to the above, the Company has written down the entire carrying value of the investment in its subsidiary, Infosys Nova Holdings.

Infosys and ABN AMRO have entered into a strategic partnership wherein Infosys will acquire 75% of shares(for 127.5 million euros) in Stater N.V., a wholly owned subsidiary of ABN AMRO Bank. The partnership aims to strengthen Infosys’ position across the mortgage service chain.

Infosys completes acquisition of 75% stake in ABN AMRO Bank subsidiary Stater In March, the country’s second largest IT services firm had said it will acquire 75 per cent stake in Stater for 127.5 million euros (about Rs 989 crore).

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As part of the announced partnership, Infosys will acquire 75% of the shareholding in Stater N.V., a wholly owned subsidiary of ABN AMRO Bank N.V., that offers pure-play, end-to-end mortgage.

Read more about Infosys completes acquisition of 75% in ABN AMRO Bank subsidiary Stater on Business Standard. Founded in 1997, Stater is the largest mortgage service provider of the Benelux By continuing to use this site you consent to the use of cookies on your device as described in our Cookie Policy unless you have disabled them.

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