JKH takes equity stake in Indian firm
John Keells Holdings said this week it has invested US$5.72 million for a 44 percent equity stake in India-based Quatrro Finance and Accounting Solutions Pvt Ltd (Quatrro F&A).
JKH and Quatrro in 2006 announced a partnership to develop a business process outsourcing (BPO) business in the Asian region, initially focusing on India and Sri Lanka. Quatrro F&A has acquired the Chicago based Financial Process Outsourcing LLC (FPO) in a structured financing transaction using a combination of instruments including debt and equity. “The investment in Quatrro F&A is a step forward in JKH’s plans of building a regional BPO business. JKH currently has BPO facilities located in Gurgaon and Colombo with approximately 550 staff. With the investment in Quatrro F&A, JKH’s presence in the BPO business will be significantly enhanced,” the company said.