SINGAPORE (Mar 19): Private equity firm Novo Tellus will become its largest shareholder in Procurri, the SGX-listed provider of IT lifecycle services and data centre equipment.

This comes after Novo Tellus PE Fund and co-investor A.C.T Holdings on Monday exercised their respective call options to acquire a total of 36.3 million Procurri shares under a put-call agreement signed on Feb 15.

The transaction is expected to close on March 21 and the investors will own 29.6% of the Procurri’s issued shares.

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