India, July 29 -- TeamLease Services Ltd has announced that its Board of Directors has approved the exercise of its exit option under the Share Purchase Agreement (SPA) dated January 6, 2025, to divest its entire 30% equity stake in Crystal HR and Securities Solutions Pvt Ltd.
As per the terms of the agreement, Crystal HR has agreed to buy back TeamLease's entire shareholding. The transaction is subject to the fulfilment of customary conditions precedent and any required regulatory or contractual approvals.
Upon completion of the transaction, Crystal HR will cease to be a joint venture of TeamLease Services.
The company stated that the divestment is part of its portfolio rationalisation strategy and capital allocation priorities, and is ...