Kirkland Aids Bain’s $1.3B Telefonica Call Biz Buy

Law360, New York (October 12, 2012, 3:33 PM EDT) -- Debt-laden Spanish telecommunications giant Telefonica SA has agreed to sell its Latin American customer service call center business Atento to Bain Capital LLC for €1.039 billion ($1.34 billion), Telefonica said in a Friday regulatory filing.

The deal value includes €110 million of vendor financing provided by Telefonica and €110 million of a contingent deferred payment. And as part of the agreement, Telefonica has secured services from Atento for at least nine years, according to the company.

Pending regulatory approvals, the transaction is expected to close by...
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