BRIEF-Totvs to sell outsourcing services unit to Propay SA

miércoles 3 de agosto de 2016 07:39 GYT

Aug 3 (Reuters) - Totvs SA :

* Said on Tuesday that it had reached an agreement to sell 100 percent of Totvs Resultados em Outsourcing Ltda (Totvs RO) to Propay SA for 5.3 million Brazilian reais ($1.6 million)

* The Agreement also establishes payment of an additional variable amount of up to 5.3 million reais adjusted by Selic rate, to be paid in 36 months and according to certain goals set for the client base of Totvs RO until July 31, 2017

* Totvs RO is engaged in providing services of Human Resources Business Process Outsourcing

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($1 = 3.2549 Brazilian reais) (Gdynia Newsroom)