L&T Infotech and Mindtree announce merger Confirming all rumo | Start Learning

L&T Infotech and Mindtree announce merger

Confirming all rumors, the infrastructure giant L&T announced the merger of its two IT services companies: L&T Infotech and Mindtree, after the Board of L&T Infotech approved the merger.

L&T Infotech is a subsidiary of L&T in which the infra giant holds 74%. Mindtree was acquired by the infra giant in 2019 and currently holds 61% in the midcap company.

The merger is expected to close in 9-12 months and involves no cash consideration. All shareholders of Mindtree will be allotted 73 shares of LTI against 100 shares of Mindtree held. The combined entity will be called “LTIMindtree” and will be led by Debashish Chatterjee, CEO of Mindtree.

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https://stories.jobaaj.com/lt-infotech-and-mindtree-announce-merger/