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CCI gives deemed approval for internal restructuring of IBM
ANI
11 May 2021, 17:18 GMT+10
New Delhi [India], May 11 (ANI): The Competition Commission of India (CCI) has given deemed approval under green channel to Kyndryl Holdings LLC and Grand Ocean Managed Infrastructure Services in relation to internal restructuring of IBM Corporation.
International Business Machines (IBM) Corporation plans to spin off its global managed infrastructure services (MIS) business into a new public company within the framework of an international corporate internal reorganisation.
The target structure will be achieved by separating it into newly-incorporated companies Kyndryl Holdings LLC and Grand Ocean Managed Infrastructure Services Pvt Ltd, according to an official statement released on Tuesday by the Ministry of Corporate Affairs.
CCI gives deemed approval to KHL, GOMIS for internal restructuring of IBM Corp ANI | Updated: May 11, 2021 12:24 IST
International Business Machines (IBM) Corporation plans to spin off its global managed infrastructure services (MIS) business into a new public company within the framework of an international corporate internal reorganisation.
The target structure will be achieved by separating it into newly-incorporated companies Kyndryl Holdings LLC and Grand Ocean Managed Infrastructure Services Pvt Ltd, according to an official statement released on Tuesday by the Ministry of Corporate Affairs.
In India, IBM s MIS business is currently housed in Network Solutions (NetSol) and IBM India, which are indirect wholly-owned subsidiaries of IBM Corporation.