Mumbai-based IT company GTL has entered into an agreement with ICICI Bank and Spanco Telesystems to lease out its BPO assets for 25 years for Rs 253 crore. GTL has two BPO facilities located in Navi Mumbai and Pune with a combined capacity of 1,500 seats. In terms of area, these two units have a combined capacity of over 1.5 lakh sq ft. According to sources close to the development, the deal is likely to be announced on Wednesday.
Sources in the know told ET that despite GTL putting its BPO arm on the block, the deal would only involve the leasing out of the facilities. “This is not an outright sale, but the leasing of the BPO assets. The companies have agreed to this system as GTL does not want to let go of the real estate where its BPO units are located.
At the same time, as reported first by ET, GTL is also close to signing a deal with France Telecom for sale of its IT business. The deal, which is slated to be announced shortly is estimated at Rs 250-300 crore. (The acquisition will be made through France Telecom’s business arm, Orange Business Services). GTL has also put its ERP businesses on the block and is looking for suitors for it.
Read more in The Economic Times article.
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