CVC, Blackstone team up on Bellsystem bid -sources

(Repeats to additional subscribers)

TOKYO, Sept 14 (Reuters) - CVC Capital and Blackstone (BX.N) are teaming up in the second round of bidding for Bellsystem24, Citigroup's (C.N) telemarketing company in Japan, three sources with direct knowledge of the deal said.

Citigroup Inc (C.N) is looking to sell Bellsystem24 in a deal that could fetch more than $1 billion, as it sells assets globally to bolster its capital.

Last week CVC Capital was shortlisted along with Permira [PERM.UL] and Bain Capital for the second round of bidding, other sources told Reuters. [ID:nL716650]

Permira is expected to bid for Bellsystem24 on its own, while Bain Capital may also team up with other funds or strategic buyers, the other sources said.

Goldman Sachs Group Inc (GS.N) and Nikko Citigroup Ltd are advising Citigroup on the transaction, the sources said.

The sources spoke on condition of anonymity because the bidding process was not public. (Reporting by Junko Fujita in Tokyo and Stephen Aldred in Hong Kong; Editing by Chris Gallagher)