J. Sagar Associates (JSA) advised Coforge Limited in acquisition of controlling stake in SLK Global Solutions Private Limited. Coforge shall initially acquire 60% stake in SLK Global, with SLK Global’s founders completely exiting. Fifth Third Bank’s stake in the company will be reduced to 40% and shall continue at that level for the next 2 years. Coforge will acquire an additional 20% stake from Fifth Third Bank after the completion of 2 years. As part of the transaction, Fifth Third Bank has committed to remaining a significant customer of SLK Global and has also committed a base volume over 5 years starting FY’22.
Aggregate consideration for the acquisition of 60% of SLK is INR 9183 Million.
JSA team comprised Partner – Anand Lakra, Principal Associate – Abhilash Chandran, Associates – Ami Shah and Ankit Kumar.