Aditya Birla to Sell Outsourcing Unit Minacs for $260 Mln - The New Indian Express

Aditya Birla to Sell Outsourcing Unit Minacs for $260 Mln

Published: 31st January 2014 12:08 PM

Last Updated: 31st January 2014 12:08 PM

India's Aditya Birla Nuvo Ltd , a unit of diversified Aditya Birla Group, has agreed to sell its business process outsourcing unit Minacs to a group of investors for $260 million.

The group of investors is led by private equity firms Capital Square Partners (CSP) and CX Partners (CXP), the company said in a statement on Friday, adding the deal is expected to be closed in two to three months.

Minacs posted sales of $450 million and a net profit of $23 million in the fiscal year ended March 31, 2013. The company employs 21,000 people across 35 centres in 10 countries, the company said in a statement.

Aditya Birla Nuvo said it decided to sell Minacs to pursue "multiple" other growth opportunities. Macquarie Capital acted as financial adviser to the private equity consortium.

comments powered by Disqus

Disclaimer: We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the NIE editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.


Read More



follow us Mobile Site iPad News Hunt Android RSS Tumblr Linekin Pinterest Youtube Google Plus Twitter Facebook