India's Aditya Birla to sell outsourcing unit Minacs to PE firms for $260 mln - Reuters
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 US$260 million. Minacs has a significant market presence in Canada, and an office in Toronto. 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 was previously a portfolio investment of Canadian private equity firm ReichmannHauer Capital Partners. The firm led the acquisition of Minacs, a TSX listed company, in 2006 and subsequently invested in TransWorks Information Services Ltd, an Indian BPO company that merged with Minacs.
