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IL&FS gets offer for back office services subsidiary CPG BPM
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New Delhi, Nov. 11 -- Infrastructure Leasing and Financial Services Ltd (IL&FS) has received an unsolicited offer from a potential investor to acquire a 59.18% stake in its process management and back office services arm CPG BPM Services Pvt. Ltd.
Following the offer, the bankrupt infrastructure developer on Monday announced that it is seeking expressions of interest (EoIs) for the stake-an effort to attract more bidders and receive a robust valuation.
"CPG has been approached by an interested party who has submitted a binding offer for the acquisition of 59.18% of the issued, subscribed and paid up equity shares of CPG," IL&FS said in a notification on its website. The remaining stake is held by M.R. Srinivasan and Latha Srirnivasan, f...
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