“The acquisition was to be accomplished inside 3-6 months…acquisition of GE’s stake in Tata Consultancy Providers Saudi Arabia has been accomplished on Might 26, 2021,” TCS mentioned in a regulatory submitting on Thursday.
In September 2013, TCS had introduced the creation of an all-women enterprise course of providers centre in Riyadh (Saudi Arabia) in partnership with GE.
In January, TCS had mentioned it would assume full accountability of the centre upon completion of the required governance and enterprise adjustments to impact this transition.
This, it had mentioned, would safe the centre’s viability in the long run and permit it to proceed to function a supply of alternative and abilities improvement for ladies within the nation.
Beforehand, Saudi Desert Rose Holding BV (wholly owned subsidiary of Common Electrical Worldwide (Benelux) BV) held 24 per cent share in TCS Saudi Arabia, whereas the stability 76 per cent was held by Tata Consultancy Providers Netherlands BV (a completely owned subsidiary of TCS).
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