Conduent completes sale of its CVO business to Alinda Capital Partners

By ROI-NJ Staff
Florham Park | Jun 29, 2018 at 11:17 am

Conduent Inc. has completed the sale of its commercial vehicle operations business to investment funds managed by Alinda Capital Partners, it announced Thursday.

The Florham Park-based digital platform and services provider announced the sale on May 18.

The sale, Conduent said, is part of its plan to divest approximately $1 billion in revenue associated with non-core assets and serve large enterprise customers.

Citigroup Global Markets Inc. served as financial advisor and Cravath Swaine & Moore LLP served as legal counsel to Conduent.

Financial terms of the sale were not disclosed.

ROI-NJ Staff | editorial@roi-nj.com | @ROINJNews