London, Thursday April 4, 2002: British Airways has signed a deal with Warburg Pincus for the private equity investor to acquire a majority shareholding in World Network Services (WNS), the airline’s India-based data management company.
Under the terms of the transaction Warburg Pincus will acquire a 70 percent stake in WNS, including certain UK assets of Speedwing International Ltd. British Airways will retain a 30 percent shareholding in WNS.
The sale of WNS will enhance the future growth prospects and development of the company. It will allow British Airways to maintain a meaningful stake, whilst pursuing its ongoing strategy to focus on core business.
Completion of the transaction is conditional on the receipt of regulatory approval in India.