Rolta India, a publicly listed company, has sold its 50% stake in Shaw Rolta to its joint venture partner, Stone & Webster, a subsidiary of The Shaw Group. The transaction was valued at US$35.5 million, US$27.5 million for the sale of shares and US$8 million for defined services.
Headquartered in Mumbai, Rolta is a provider of information technology solutions, services and software. It employs approximately 4,500 professionals and has subsidiaries around the world.
Rukshad Davar, a partner at Majmudar & Co, advised Rolta India on the deal. The Shaw Group was advised by Vishwang Desai, a partner at Desai & Diwanji.
