KKR, PAG Vie for the Apollo Arm call center business in India
(Bloomberg) – Buyout firms KKR & Co. and PAG are among preliminary bidders for IGT Solutions Pvt, the Indian call center business sold by a branch of Apollo Global Management, according to people familiar with the matter .
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IGT Solutions, which is owned by Apollo’s subsidiary Aion Capital Partners, also attracted initial interest from Indian back office manager WNS Holdings Ltd., people said. Aion is looking for more than $ 700 million for the asset, the people said.
Aion plans to solicit final offers for the company next month, the people said. He aims to sign an agreement with a buyer as early as this quarter, according to one of the people.
Other suitors could emerge as well, and there is no certainty that the deliberations will result in a deal, the people said. Representatives for Apollo and KKR declined to comment. Spokesmen for PAG and WNS did not immediately respond to requests for comment.
Founded in 1998, IGT Solutions employs more than 15,000 workers in approximately 22 delivery centers in India, Philippines, China, Malaysia, United Arab Emirates, Romania, Indonesia, Spain, Colombia and the United States. United, according to its website.
Aion Capital, formed by Apollo and Indian firm ICICI Venture Funds Management Co., bought IGT for around $ 230 million in early 2019 from the owner of Indian airline IndiGo. ICICI and Apollo terminated the alliance last year, and Apollo will advise on Aion’s investments until the end of the fund’s term.
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