United Technologies sells stake in Cyient Limited
According to a statement issued by Cyient, this is the second tranche of divestment by UTC.
Hyderabad: United Technologies Corporation has decided to exit from Cyient Limited, a city-based IT firm, by selling its minority stake.
According to a statement issued by Cyient, this is the second tranche of divestment by UTC, the first being done earlier in June 2017 and the current transaction is subject to the trade settlement procedures of the stock exchanges.
“On expected lines and further to our communication on this dated June 7, Carrier International (Mauritius) Limited, a subsidiary of UTC, has executed a trade earlier today to divest its balance equity shareholding in Cyient, according to information available on the NSE, subject to the trade settlement procedures of the stock exchanges,” it said without disclosing the financial details.