Hinduja TMT to consolidate overseas holdings

New Delhi, Sep 29 (UNI) Hinduja TMT Ltd will consolidate its overseas holdings or subsidiaries under one entity even as it simplify the holding structure in the company.

''The Board of Directors has taken an in-principle decision in this regard,'' company's satement said.

The company has identified Pacific Horizon Ltd (its wholly-owned subsidiary in Mauritius) as the vehicle for this purpose.

It's shareholding in its overseas subsidiaries US-based Source1HTMT and in C-Cubed NV, will accordingly be sold and transferred to Pacific Horizon Ltd.

Early this month, Hinduja TMT had announced that it would demerge its Information Technology and IT Enabled Services undertaking into a separate entity, which would get listed in the fourth quarter of current fiscal.

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