Germany's Brokat takes stake in Ways India

NEW DELHI: German software company Brokat Infosystems AG has picked up a five

per cent stake in Ways India Ltd., which specializes in software for electronic

financial transactions, The Economic Times said on Tuesday.

Brokat has paid $7 million for the stake, the paper said.

Ways India's total equity comprises 62.5 million shares, of which 3.255

million have been sold to Brokat AG, it said.

The shares have been sold at Rs 100 each, a premium of Rs 96 over the face

value of Rs 4, it said.

Ways India chief executive officer J Rajagopal confirmed to Reuters that

Brokat had bought the stake.

Ways is promoted by two Mauritius-based companies - Euro Discover Technology

Venture Limited and Euro Discover India Limited, the paper said.

Mauritius-based Home Trade also has a 9.5 per cent stake in the company, it

said.

(C) Reuters Limited 2001.