SBI sanctions term loan to Mascon Global

Mascon Global Ltd has announced that the Board of Directors of the Company at its meeting held on January 18, 2007, inter alia, has considered and approved the following:

1. The Company has been sanctioned a term loan of US $ 18.7 Million by State Bank of India. The funds will be utilized towards initial investment and payment of balance purchase consideration towards acquisition of software Companies in USA.

2. The Board directed the Investment Committee to evaluate the acquisition proposals of Target Companies under consideration and submit the recommendations to the Board.

Source : Equity Bulls

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