Sutherland operates four indirect subsidiaries in India
The Competition Commission of India (CCI) has approved Singapore state-owned Coral Blue Investment acquisition of shares in Sutherland Global Holdings Inc, a US global information technology service provider which operates four indirect subsidiaries in India.
The proposed combination pertains to the acquisition of Series C Preferred Stock convertible to common stock of Sutherland in two tranches by the Coral Blue Investment Pte Ltd of the Singapore state investor GIC.
The acquisition is subject to the fulfilment of relevant conditions, CCI said, announcing the approval on 11 Jan 2022.
GIC Investor is wholly-owned by GIC Blue Holdings Pte Ltd, an entity which is in turn wholly-owned by GIC (Ventures) Private Limited. GIC Investor is a special purpose vehicle organized as a private limited company in Singapore. It is part of a group of investment holding companies managed by (i) GIC Special Investments Private Limited, which is wholly-owned by GIC Private Limited and (ii) the Integrated Strategies Group of Government Investment Corp (GIC).
Sutherland, a privately held holding company incorporated in the United States, operates as a holding company and is a global information technology service provider. It specializes in the provision of integrated business process outsourcing (BPO), business transformation, cloud, back office, and front office services, business process and technology management services.
It operates through four indirect subsidiaries in India i.e., (i) Sutherland Global Services Private Limited; (ii) Sutherland Development Company Private Limited; (iii) Adventity Global Services Private Limited; and (iv) Sutherland Healthcare Solutions Private Limited. fiinews.com
