TOKYO, July 29 U.S. buyout firm Bain Capital has
agreed to sell a 49.9 percent stake in Japanese telemarketing
firm Bellsystem24 Holdings to Tokyo-based trading house Itochu
Corp, the parties said in separate statements without
disclosing the value of the deal.
Bain Capital will retain a 50.1 percent stake in
Bellsystem24, which it bought from Citigroup Inc in 2009
for about $1 billion.
The Nikkei business daily reported earlier on Tuesday that
Itochu would put up about 30 billion yen ($294 million)
initially and take out loans from its banks to make further
payments to complete the purchase.
Bellsystem24, set up in 1982, employs about 20,000 operators
at its 22 call centers nationwide. Itochu said it would make its
telemarketing business as one of its core businesses after the
acquisition of the stake in Bellsystem24.
($1 = 101.8800 Japanese Yen)
(Reporting by Junko Fujita; Editing by Kenneth Maxwell)