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Shearman refers Luthra role in $260m Aditya Birla Canadian BPO sale

Luthra & Luthra and Shearman & Sterling advised Capital Square Partners, CX Partners and a group of investors led by them, in buying Canada-based business process outsourcer Aditya Birla Minacs Worldwide. Aditya Birla Minacs was advised in house.

Its parent Aditya Birla Nuvo will divest Aditya Birla Minacs at an enterprise value of $260m (Rs1600 crore), reported Mint.

Luthra Mumbai partners Bikash Jhawar and Amit Shetye, senior associate Rohan Shah and associates Satadru Goswami, Avinash Subramanian and Aastha Suman acted for teh investors.

Shearman partner Sidharth Bhasin was international counsel on the deal, which referred the matter to Luthra, said Jhawar.

The $40-billion telecom-to-retail Aditya Birla Nuvo group is exiting from the IT and ITeS business with this sale, as Minacs is yet to become a dominant player in its core businesses, according to the Economic Times. Jhawar said that the deal should close in the next 45 to 60 days.

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