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WNS buys Aviva BPO in India for $230 mln
Posted by naatmad on Thursday, 10 July, 2008
MUMBAI, July 10 WNS buys Aviva Ltd BPO in India and Sri Lanka for $230 million, the Economic Times said on Thursday, without citing sources.
Mumbai-based WNS is expected to make an announcement on Thursday, the newspaper said.
The acquisition of Aviva Global Services will give WNS $1 billion worth of outsourced work committed to Aviva over an eight-year period, the paper said.
A spokesman for WNS called the report “speculative”.
WNS will fund the buyout through a $200 million line of credit from ICICI Bank , with buyout firm Warburg Pincus [WP.UL], which owns a majority stake in WNS, contributing around $30 million, the paper said.
WNS, which draws about half its business from British and European operations, in April acquired a British auto insurance claims-processing services provider, Call 24/7 Ltd.
Source Reuters
