SIS Australia-led subsidiary to acquire 85% shareholding in Safety Direct Solutions

5 Sep 2022 , 10:33 AM

SIS Limited has informed to the exchanges regarding agreement to acquire shareholding of Safety Direct Solutions Pty Ltd by SIS Australia Group Pty Limited, a subsidiary of the Company.

In a regulatory filing, the company said that its subsidiary SIS Australia Group Pty Limited on August 31, 2022, signed Share Purchase Agreement for acquisition of 85% shareholding in Safety Direct Solutions Pty Ltd.

Strategic fit and complementary to the “Strategic Medical” business of SIS Group in Australia will make SIS Group Australia’s largest Emergency Services provider, the company added.

SIS Australia Group Pty Ltd proposes to acquire 85% of shareholding of SDS through this transaction.

SDS is a leading provider of critical risk, medical, training and security services to bluechip organisations across Australia.

At around 10:32 AM, SIS Ltd is currently trading at Rs454.75 per share up by Rs2.55 or 0.56% from its previous closing of Rs452.20 per share on the BSE.

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