M&A

30 October, 2009

Three fund groups submit Bellsystem bids -sources

TOKYO, Oct 30 (Reuters) - Citigroup Inc (C.N)'s Japanese telemarketer Bellsystem24 has drawn final bids from Permira [PERM.UL], Bain Capital as well as a joint bid from CVC Capital and Blackstone (BX.N), seven people with direct knowledge of the deal said.

The deal could fetch more than $1 billion, the largest private equity transaction in Japan since March last year. [ID:nT121752]

Citigroup is selling Bellsystem24, as part of its global efforts to gain cash to bolster its capital.

The sources spoke on condition of anonymity because the bidding process was not public. (Reporting by Junko Fujita, Wakako Sato and Emi Emoto; Editing by Edwina Gibbs)

Source: http://www.reuters.com