Mumbai, Sep 10 (IANS) Leading technology solutions provider to the global airline, logistics and travel (ALT) industry, Kale Consultants Friday said its promoters have sold their controlling stakes in the company to Spanish firm Accelya for Rs.97.52 crore ($21 million).
The deal makes the Barcelona-based Accelya the world’s largest back-office services provider for airlines.
‘Under the share purchase agreement the promoters have agreed to sell to Accelya all the 5,669,478 equity shares of the company, being 35.61 percent of the fully diluted share capital at a price of Rs.172 per share for cash,’ said the Pune-based company in a regulatory filing.
The stock sale price of Rs.172 is a 20.5 percent premium over Kale’s Thursday closing price of Rs.142.70.
Indian equities markets were closed Friday on account of Eid.
