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il&fs completes sale of stake in terrasys technologies

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il&fs completes sale of stake in terrasys technologies

Mumbai, Nov 25 (PTI) Debt-ridden Infrastructure Leasing and Financial Services (IL&FS) has completed the sale of 52.26 per cent stake in Terrasys Technologies Ltd (TTL) to Falcon SG Holdings, (Philippine) Inc (Falcon SG). has taken.

IL&FS Group said in a release on Thursday that it has also resolved debt of about Rs 1,275 crore with this and has completely exited the technology business.

With this transaction, 200 employees working in these companies will move to the new company of the new promoters, according to the release.

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