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Hutchison Global to be sold: Times of India
Posted on Thursday, 05 July 2012 14:28
Hong Kong-based investment holding company Hutchison Whampoa is planning to sell its business processing outsourcing (BPO) division, Hutchison Global Services, according to the Times of India (ToI), citing banking sources briefed on the matter.
The people said potential bidders including Tech Mahindra and Serco Group have expressed interest in the firm, with the paper adding that Goldman Sachs is advising the vendor.
If a deal goes ahead, ToI claims it would see Hong Kong billionaire Li Ka-Shing, chairman of Hutchison Whampoa, fully exit the Indian market, having offloaded his stake in his mobile telecoms joint venture Hutchison Essar, to Vodafone for USD 11.00 billion in 2007.
Founded in 2003, Hutchison Global Services is based in Mumbai and Pune and employs 12,000 people.
In addition to its Indian activities, the firm provides customer relationship management solutions to the Three network in the UK and Ireland, and to Vodafone in Australia.
According to its website, it is one of the largest BPO service providers in India.
Hutchison Whampoa is a diversified holding company with a presence in various sectors, including ports and related services, property and hotels, retail, infrastructure, energy and telecommunications.
With headquarters in Hong Kong, the firm employs more than 250,000 people throughout 53 countries worldwide.
It has been listed on the Hong Kong Stock Exchange since 1978 and according to its website, is the world’s leading port investor, developer and operator, and also the leading health and beauty retailer worldwide.
Hutchison Whampoa’s flagship companies include AS Watson, Cheung Kong Infrastructure, Husky Energy and Hutchison Telecom.
The company recorded revenue of HKD 233.70 million (USD 30.14 million) in fiscal 2011, up 11.7 per cent on the HKD 209.18 million (USD 26.97 million) generated in 2010.
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