Argan (Mauritius) Limited and TA Associates announced on August 13 that they have signed definitive agreements with Partners Group to divest stakes in Atria Convergence Technologies Limited.

Argan will exit its entire shareholding in ACT, while TA will partially divest its shareholding, a press release noted.

“The sale values ACT at an Enterprise Value of nearly USD 1.2 billion. The transaction was exclusively advised by UBS,” it added. Pramod Kabra, Argan’s nominee director on the ACT Board, said the company has evolved exponentially in partnership with it over the last 15 years.
“We are immensely proud of the company’s sustained operational excellence and customer-centricity, which allowed it to become a household name for nearly 3 million homes. In addition, ACT’s management team has consistently exhibited sharp financial acumen, with a hands-on approach to strategic initiatives to navigate competitive market conditions, thereby holding a strong market position over the years,” he said.
Read more/Source: Money Control