• Saturday, June 25, 2022

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Infosys to acquire 75 per cent stake in ABN AMRO’s mortgage services arm

According to reports, the complaint by a group that calls itself “ethical employees” had alleged chief executive officer Salil Parekh and chief financial officer Nilanjan Roy were indulging in “unethical practices” to boost short-term revenue and profits (Photo: PRAKASH SINGH/AFP/Getty Images).

By: Radhakrishna N S

INDIA’S IT giant, Infosys, said today (28) that it would acquire a 75 per cent stake in Stater N.V. for £109.64 million. 

Stater N.V., a wholly owned subsidiary of ABN AMRO Bank N.V., offers mortgage administration services in the Netherlands, Belgium, and Germany. 

ABN AMRO will continue to hold the remaining 25 per cent of the shareholding.

Infosys is expected to purchase the stake through its unit Infosys Consulting Pvt Ltd and the transaction is expected to complete by March 2020. 

Erwin Dreuning, managing director at Stater said:“…as they are already active in mortgage administration services, Infosys offers specific expertise. With the combined forces of ABN AMRO, Infosys, and Stater ensures we have a solid basis to pursue our plans to for further development of our service offering. Furthermore, it opens up opportunities for us to grow and service other clients.”

The current management team of Stater will continue to steer the company.

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