The Aditya Birla group has sold its Canada-based business and technology outsourcing firm, Aditya Birla Minacs, to a group of financial investors led by Capital Square Partners (CSP) and CX Partners (CXP) for Rs. 1,600 crore ($260 million)..Luthra & Luthra acted for the financial investors. The Luthra team was led by Mumbai Partners Bikash Jhawar and Amit Shetye along with Senior Associate Rohan Shah and Associates Satadru Goswami, Avinash Subramanian and Aastha Suman..Shearman & Sterling acted as International legal counsel for the financial investors with a team led by Partner, Sidharth Bhasin..Aditya Birla Group was advised by its in-house team..Minacs, a business and technology outsourcing firm of Aditya Birla Group, employs 21,000 people across 35 locations in the world. It is the country’s sixth-largest BPO firm, according to rankings compiled by NASSCOM..The group is likely to use the capital raised from selling the BPO to grow the retail and financial businesses, according to Business Standard.
The Aditya Birla group has sold its Canada-based business and technology outsourcing firm, Aditya Birla Minacs, to a group of financial investors led by Capital Square Partners (CSP) and CX Partners (CXP) for Rs. 1,600 crore ($260 million)..Luthra & Luthra acted for the financial investors. The Luthra team was led by Mumbai Partners Bikash Jhawar and Amit Shetye along with Senior Associate Rohan Shah and Associates Satadru Goswami, Avinash Subramanian and Aastha Suman..Shearman & Sterling acted as International legal counsel for the financial investors with a team led by Partner, Sidharth Bhasin..Aditya Birla Group was advised by its in-house team..Minacs, a business and technology outsourcing firm of Aditya Birla Group, employs 21,000 people across 35 locations in the world. It is the country’s sixth-largest BPO firm, according to rankings compiled by NASSCOM..The group is likely to use the capital raised from selling the BPO to grow the retail and financial businesses, according to Business Standard.