Fortis Fin acquires 76% stake in Capital Market Solutions

Fortis Fin acquires 76% stake in Capital Market Solutions

Mumbai: Fortis Financial Services Tuesday said it has acquired 76% stake in Australia-based Capital Market Solutions (CMS).

The company has made this acquisition through its Special Purpose Vehicles (SPVs) Regius Infotech Pvt Ltd and Regius Overseas Holding Company, created specifically for this purpose, Fortis Financial said in a communique to the Bombay Stock Exchange.

CMS, a company incorporated under the Australian laws, provides software services and solutions to stockbrokers, investment banks and investment managers with market-tailored solutions.

Fortis is an international provider of banking and insurance services to individuals, business and institutional customers. The company delivers a total package of financial products and services through its intermediaries and other partners.

The company also said it had settled its court case against the Netherlands-based Fortis NV for using the word ‘Fortis’ for all its activities except for financial products and services.