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Canadian private equity firms Capital Square Partners and CX Partners have decided to acquire Aditya Birla Minacs, a unit of the Aditya Birla Group for $260 million.
Aditya Birla Minacs is a part of ABNL IT and ITeS, which is a wholly owned subsidiary of Aditya Birla Nuvo Ltd. The transaction is expected to be closed in 2-3 months, the company said in a statement.
Minacs posted sales of $450 million and a net profit of $23 million in the fiscal year 2013 and has 21,000 employees.
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