Paxys sells 35% stake in call center firm

Paxys Inc., a publicly listed holding firm for business process outsourcing companies, sold its entire 35-percent stake in local call

center WNS Philippines Inc. to its foreign partner, WNS Global Services Netherland Cooperative UA.

The minority interest in WNS Philippines, a joint venture created in 2008, was sold to WNS Global for P90.88 billion, Paxys disclosed to the Philippine Stock Exchange Wednesday.

“The proceeds of the sale will be used by Paxys for its investment activities,” the company said, adding that the net value of its investment in the local WNS unit constituted less than 1 percent of its consolidated net assets.

With this transaction, WNS Global now owns 100 percent of the local call center.

WNS Global is a member of WNS (Holdings) Ltd. Group, a leading global BPO provider based in Mumbai, India, and listed on the New York Stock Exchange. The group provides outsourcing services for travel and leisure, banking and financial services, insurance, shipping and logistics, utilities, healthcare, manufacturing, telecommunications, and retail and consumer packaged goods industries.—Doris C. Dumlao