GPIT to sell 51pc stake to Accenture
Grameenphone is set to dispose off its majority stakes in its IT subsidiary GPIT to Accenture, an American management consultancy, technology services and outsourcing firm, officials said.
The mobile operator also reserves the right to sell on the remaining 49 percent to Accenture at a later date.
“We have applied at the Bangladesh Securities and Exchange Commission on Tuesday to sell shares,” said Rony Riad Rashid, chief corporate affairs officer of GPIT.
“It is a big thing for Bangladesh,” said Raihan Shamsi, chief executive officer of GPIT, adding that the market value of Accenture's acquired stakes would be announced soon.
An extraordinary general meeting has been scheduled for August 1 to obtain approval for the share transfer, said a notification to the Dhaka Stock Exchange.
GPIT, which was established in 2011 by Grameenphone, provides end-to-end solutions to banks, financial institutions, fast-moving consumer goods, pharmaceuticals and telecom companies.