- Startek ( NYSE: SRT ) has agreed to sell its indirect 51% stakes in Contact Centre Company, a joint venture with Saudi Telecom that operates in the Kingdom of Saudi Arabia.
- The move comes in acceptance of final bid by Arabian Internet and Communications Services Company which further seeks to acquire the remaining 49% Saudi Telecom's ownership.
- Transaction is based on the Contact Centre Company's enterprise value of SAR 450M, on debt free and cash free basis, to be paid in cash.
- However, it's a proposed acquisition and remains subject to negotiations, terms and satisfaction of conditions for closing.
- Earlier in the week, Startek ( SRT ) reported earnings and revenue miss in its third quarter results.
For further details see:
Startek to sell majority stakes in Saudi's Contact Centre JV at SAR 450M