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ICICI Bk, Temasek revive Firstsource stake sale plans

09 Nov 09 04:29 PM
Money Control
ICICI BANK Singapore state investor Temasek, and another large shareholder have revived plans to sell their stakes in back-office firm Firstsource Solutions in a deal valued at USD 285 million at the current market price, sources said.
ICICI, Temasek's Aranda Investment and US-based banking technology group Metavante together own 68% of Firstsource and have hired Citigroup to arrange the deal, sources said.
ICICI declined to comment. Temasek officials in India could not be immediately reached. A spokeswoman for Firstsource said in an e-mailed reply she would not want to comment on market speculation.