Investment in India

18 May 2006 07:00

Empresaria Group PLC18 May 2006 Empresaria Group plc Investment in Interactive Manpower Solutions Limited Empresaria Group plc ("Empresaria" or "the Group") is pleased to announce thaton 17th May 2006 it invested INR (Indian Rupees) 42,440,000 (approximately£500,000) by way of equity investment and convertible debentures in return foran approximate 25% stake in Interactive Manpower Solutions Private Limited ("IMS"). Empresaria has agreed to make a further INR 29,760,000 (approximately£350,000) available to fund further expansion of the business and retains anoption to increase its shareholding to 67.5% in the future. This transaction continues the expansion of Empresaria's internationaloperations, taking the Group into a fast growing economy and rapidly developingstaffing market. IMS was established early in 2006 by AAA IT Solutions Private Limited, an Indiabased IT company specialising in HR related software. It has establishedoperations in Ahmedabad and will be using the funds invested to establish anational branch network across India. The focus of IMS operations is onpermanent and temporary staffing, HR outsourcing and training. As well asproviding business solutions to the expanding Indian market, it is anticipatedthat IMS will offer HR services to companies outside of India. Commenting on the acquisition, Miles Hunt, Chief Executive of Empresaria said: "India offers both growth opportunities and access to high quality, lower costskills and resource. We are delighted to have invested in such a fastdeveloping business, with such an ambitious management team in such a dynamicmarket place." For further enquiries please contact: Empresaria Group Plc01293 649 900 Tony Martin (Chairman) Miles Hunt (Chief Executive) Nick Hall-Palmer (Finance Director) First City Public Relations020 7436 7486 / 07739 185 050 Ian Foster Notes for editors: Empresaria Group plc is an international specialist staffing group built on aphilosophy of management equity. Empresaria was formed in 1996 by Miles Hunt and consists of 26 staffingcompanies. Its business model allows founder managers and key staff withinEmpresaria's subsidiaries to acquire or retain a meaningful stake in thebusinesses they run or work in. Empresaria currently provides specialist recruitment services across fivesectors in the UK; namely: 1. Construction, Property Services & Engineering; 2. Supply Chain; 3. Public Sector; 4. Financial Services; and 5. Specialist Brands. In addition, Empresaria is actively expanding internationally and has alreadyestablished operations in the US, China, Japan, Australia, Thailand, Indonesia,Czech Republic and Slovakia. This information is provided by RNS The company news service from the London Stock Exchange