Warburg Pincus to Sell Stake in BPO Provider WNS

BY STAFF REPORT

Warburg Pincus LLC is selling a  25 percent stake in the Indian outsourcing firm WNS Holdings for about US$192 million.

Warburg Pincus had picked up a controlling stake in WNS from British Airways in 2002, but it reduced its stake gradually in the suceeding years. WNS said it doesn’t plan to offer any ADSs in the offering and won’t receive any proceeds from the sale.

BofA Merrill Lynch and Wells Fargo Securities are acting as joint book-running managers and Baird, William Blair and Janney Montgomery Scott are acting as co-managers for the offering.

“Assuming the overallotment option is exercised in full by the underwriters, Warburg Pincus will have no remaining shareholdings in WNS following the offering,” the BPO provider stated in a press release.

WNS offers a wide range of BPO services including finance and accounting, customer care, technology solutions, research and analytics and industry specific back office and front office processes.

With 31 delivery centers in different countries, including Costa Rica and India, WNS has more than 25,931 employees.