Computershare
(ASX:CPU) has agreed to sell 50 per cent of its interest in Indian venture Karvy Computershare for US$90 million.
The Australian share transfer company is selling half of the division to General Atlantic, to build a simpler more transparent company.
The company expects to book a post-tax accounting gain of about US$120 million.
Computershare initially snapped up the interests in the business for US$8 million in 2004. The division has been contributing around 1.5 per cent to the group’s post tax earnings in recent periods.
Shares in Computershare
(ASX:CPU) last traded 0.86 per cent higher to $14.10.
