DSQ in talks to sell 31% stake

CHENNAI, NOV 4: DSQ Software Ltd is in talks with a foreign investor to sell 31 per cent stake for a sum of around Rs 210 crore. However, it has not yet struck any deal for the sale of an equity stake to Bank of America’s private equity fund, a senior company official said on Thursday. "Talks are going on. The matter is still not closed," the official told Reuters.

He said the company had made a presentation to the chief of the US fund and was waiting for their response. The official, who did not wish to be identified, was responding to a newspaper report on Thursday which said Banc America Equity Partners was set to acquire a 31 per cent stake in the software services company for Rs 210 crore. Banc America Equity Partners’ representatives in India were not immediately available for comment. DSQ has called an EGM of shareholders on Nov 12.