Business
Investment in India
Investment in India.
About this update from Empresaria Group Plc
[{"type":"text","content":"\n Empresaria Group PLC\n18 May 2006\n\nEmpresaria Group plc\n\n\n\nInvestment in Interactive Manpower Solutions Limited\n\n\n\nEmpresaria Group plc ('Empresaria' or 'the Group') is pleased to announce that\non 17th May 2006 it invested INR (Indian Rupees) 42,440,000 (approximately\n£500,000) by way of equity investment and convertible debentures in return for\nan approximate 25% stake in Interactive Manpower Solutions Private Limited ('IMS\n'). Empresaria has agreed to make a further INR 29,760,000 (approximately\n£350,000) available to fund further expansion of the business and retains an\noption to increase its shareholding to 67.5% in the future.\n\n\n\nThis transaction continues the expansion of Empresaria's international\noperations, taking the Group into a fast growing economy and rapidly developing\nstaffing market.\n\n\n\nIMS was established early in 2006 by AAA IT Solutions Private Limited, an India\nbased IT company specialising in HR related software. It has established\noperations in Ahmedabad and will be using the funds invested to establish a\nnational branch network across India. The focus of IMS operations is on\npermanent and temporary staffing, HR outsourcing and training. As well as\nproviding business solutions to the expanding Indian market, it is anticipated\nthat IMS will offer HR services to companies outside of India.\n\n\n\nCommenting on the acquisition, Miles Hunt, Chief Executive of Empresaria said:\n\n\n\n'India offers both growth opportunities and access to high quality, lower cost\nskills and resource. We are delighted to have invested in such a fast\ndeveloping business, with such an ambitious management team in such a dynamic\nmarket place.'\n\n\n\nFor further enquiries please contact:\n\n\n\nEmpresaria Group Plc\n01293 649 900\n\nTony Martin (Chairman)\n\nMiles Hunt (Chief Executive)\n\nNick Hall-Palmer (Finance Director)\n\n\n\nFirst City Public Relations\n020 7436 7486 / 07739 185 050\n\nIan Foster\n\n\n\n\n\n\n\nNotes for editors:\n\n\n\nEmpresaria Group plc is an international specialist staffing group built on a\nphilosophy of management equity.\n\n\n\nEmpresaria was formed in 1996 by Miles Hunt and consists of 26 staffing\ncompanies. Its business model allows founder managers and key staff within\nEmpresaria's subsidiaries to acquire or retain a meaningful stake in the\nbusinesses they ...