AGC Networks completes stake acquisition in Z Services HQ DMCC

New Delhi: AGC Networks on Saturday said it has completed the acquisition of 76 per cent stake in Z Services HQ DMCC. In March, AGC Networks had said its subsidiary – Black Box Holdings – will acquire a majority stake in Z Services HQ DMCC for about USD 3.94 million (around Rs 28.6 crore).

“…Black Box Holdings Limited has completed the acquisition of Services Holding Ltd with the effective date being April 01, 2021,” AGC Networks said in a regulatory filing on Saturday.

Black Box Holdings Ltd, an indirect wholly-owned subsidiary of AGC Networks had entered into a share sale agreement with Z Services Holding Ltd, a BVI business company incorporated in the British Virgin Islands on March 11, 2021.