Partners Group denies selling CSS Corp
Swiss private equity firm Partners Group has denied reports that it is divesting its stake in IT services firm CSS Corp. An India Times report alleged that Partners is selling CSS Corp for about USD400-USD450m after acquiring the company in 2013 for USD270m. CSS has a team of over 5,400 professionals and service delivery centres in 13 locations worldwide, including the Philippines, India, the US, Poland, Mauritius, Costa Rica and China. The report said said Partners Group is in preliminary talks with Infosys and TCS as well as other PE funds such as Blackstone Group, Carlyle and Apax Partners for the sale. Partners Group, however, said that there is not exit plan on the horizon and that it has not approached any of the firms or companies mentioned in the article.
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