Sify to sell its entire stake in MF Global

CHENNAI, INDIA: Sify Technologies Limited, a provider of Managed Enterprise, Network and ICT Services in India, on Wednesday announced that it has reached an agreement for sale of their entire stake in MF Global Sify Securities India Pvt Ltd. for an all cash deal.

As per the terms in the agreement, MF Global and PhillipCapital Group — a Singapore-based financial services company — through its related companies, will buy a majority stake in MF Global Sify Securities India Private Limited.

The transaction is subject to regulatory and statutory approvals in the respective countries.