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Article: Japan: Citibank to Sell Bellsystem24 Inc. To Bain Capital.
- Article from:
- TendersInfo
- Article date:
- November 6, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: babalu03
Bain Capital has secured exclusive bidding rights with Citibank to purchase its Japanese telemarketing firm Bellsystem24 Inc. In a deal that could bring Citibank more than $1 billion in new capital to cash-strapped mega bank.
Bain Capital, a U.S. private equity firm, will have exclusive negotiating rights until November 11th, according to several sources. The first round of bidding for Bellsystem 24 inc, which involved Permira Advisors and a consortium of CVC Capital and Blackstone Group, ended last Friday.
This asset sale is being conducted by Citigroup s Japanese private equity firm, Nikko Principal Investments, which was ...