BANGALORE: Infosys Technologies today announced its agreement with Citicorp International Finance Corporation to acquire their entire holdings in Progeon Ltd.
Under the agreement, Infosys will buy all (23 per cent on a fully diluted basis) of Citi's holdings in Progeon amounting to 8.75 million shares for a consideration of approximately $115.13 million (approximately Rs. 518 crore).
The consideration will be paid in cash and the transaction is expected to be completed by July 2006.
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