19th May 2015 13:13
LONDON (Alliance News) - FTSE 250-listed outsourcing company Serco Group PLC is understood to be close to agreeing a deal to sell its Intelenet Indian outsourcing arm, Sky News reports.
Serco is thought to have entered into exclusive talks to sell the business to SPI Global, a Philippines-based rival of Intelenet owned by private equity house CVC Capital Partners. Blackstone, the US private equity investor and former owner of Intelenet, is also thought to have tabled an offer.
Analysts said Intelenet, which provides back office services to financial services, healthcare, telecoms and travel companies, could fetch around USD400 million.
http://news.sky.com/story/1486885/serco-closes-in-on-indian-unit-sale-to-cvc
By Sam Unsted; [email protected]; @SamUAtAlliance
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