Conduent Completes Sale of its Commercial Vehicle Operations Business to Alinda Capital Partners
Conduent Completes Sale of its Commercial Vehicle Operations Business to Alinda Capital Partners |
[28-June-2018] |
FLORHAM PARK, N.J., June 28, 2018 /PRNewswire/ -- Conduent Incorporated (NYSE: CNDT) today announced it has completed the sale of its commercial vehicle operations (CVO) business to investment funds managed by Alinda Capital Partners, as previously announced May 18, 2018.
The sale is a part of the company's previously announced plan to divest approximately $1 billion in revenue associated with non-core assets and to focus on serving large enterprise customers. Citigroup Global Markets Inc. served as exclusive financial advisor and Cravath Swaine & Moore LLP served as legal counsel to Conduent. About Conduent Conduent's differentiated offerings touch millions of lives every day, including two-thirds of all insured patients in the U.S. and nearly nine million people who travel through toll systems daily. Whether it's digital payments, claims processing, benefit administration, automated tolling, customer care or distributed learning – Conduent serves a majority of the Fortune 100 companies and more than 500 government entities. Learn more at www.conduent.com. About Alinda Note: To receive RSS news feeds, visit www.news.conduent.com. For open commentary, industry perspectives and views, visit http://twitter.com/Conduent, http://www.linkedin.com/company/conduent or http://www.facebook.com/Conduent. Conduent is a trademark of Conduent Incorporated in the United States and/or other countries.
View original content with multimedia:http://www.prnewswire.com/news-releases/conduent-completes-sale-of-its-commercial-vehicle-operations-business-to-alinda-capital-partners-300674401.html SOURCE Conduent Incorporated | ||
Company Codes: NYSE:CNDT |
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