Sify Tech to exit MF Global India in all-cash deal

MUMBAI: Sify Technologies today said it has reached a deal to sell its entire stake in MF Global Sify Securities India in an all-cash deal.

According to the terms of the agreement entered with MF Global Sify Securities India, MF Global Overseas and Phillip Capital Group, the Singapore-based financial services company through its related firms will buy a majority stake in MF Global Sify Securities India, Sify said in a statement here.

The transaction is subject to regulatory and statutory approvals in the respective countries, it added.