CVC

CVC buys BPO business from PLDT

PLDT agrees to sell its business process outsourcing operations to CVC in a deal valued at more than $300 million.
<div style="text-align: left;">
Manuel Pangilinan, PLDT chairman</div>
<div style="text-align: left;"> Manuel Pangilinan, PLDT chairman</div>

CVC Capital Partners continues to make strategic investments in its third Asia fund. Its latest acquisition is the business process outsourcing BPO operations owned by a subsidiary of Philippine Long Distance Telephone PLDT.

Asia Outsourcing Gamma, a company controlled by CVC, will pay more than $300 million for 80% of the BPO businesses of SPi Global, which is wholly owned by PLDT. Asia Outsourcing Gamma is held in the private equity firm’s $4.12 billion CVC Capital Partners Asia Pacific III, set up in 2008.

CVC will take majority control of the businesses and have board representation.

PLDT will retain a...

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