Wipro unit acquires remaining 51% stake in Wipro Doha LLC

Wipro IT Services UK Societas, a wholly-owned subsidiary of Wipro Limited, has acquired the remaining 51 per cent equity stake in Wipro Doha LLC for 102000 Qatar Rial in an all-cash deal.

“Consequent to the acquisition of aforesaid additional equity stake, the company’s holding in Wipro Doha LLC increased from 49 per cent to 100 per cent,” the company said in an exchange filing.

The company said it has acquired 102 shares. Wipro Doha LLC has been incorporated as a joint venture between Wipro Limited through its subsidiary (holding 49 per cent) along with a local partner (holding 51 per cent) shareholding in the year 2014 and headquartered in Qatar to provide information technology services.

In line with the original shareholders’ agreement and as per the approvals now obtained locally the remaining 51 per cent shareholding of the local partner is now acquired by Wipro to make it a wholly owned subsidiary, the company said in the filing. Benzinga