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On December 3, 2004, MCI announced
it had reached an agreement to sell Proceda, its
non-core IT outsourcing business in Brazil, to the
company's management and private equity firm Votorantim
Novos Negócios for $3 million cash and the
assumption of approximately $10 million in debt.
North Bay Equity Partners acted as financial advisor
to MCI on this transaction. |
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MCI, Inc. is a leading global communications
provider, delivering innovative, cost-effective,
advanced communications connectivity to businesses,
governments and consumers. With the industry's most
expansive global IP backbone, based on the number
of company-owned points of presence, and wholly-owned
data networks, MCI develops the converged communications
products and services that are the foundation for
commerce and communications in today's market. |
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Proceda is a leading provider of
information technology services in Brazil. Proceda
delivers technology infrastructure, outsourcing,
and applications services to Brazilian clients in
the manufacturing, financial services, healthcare,
communications, energy, consumer, and retail industries.
Proceda's primary business lines are mainframe processing
and e-Business services. |
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Votorantim Novos Negócios
is the US$ 300 million private equity arm of the
Votorantim Group, one of the largest industrial
concerns in Brazil, with approximately US$5 billion
in revenues. The Votorantim Group is one of the
largest business concerns in Brazil and is a leader
in its operating markets. In the industrial sector,
the Group has a strong presence in the cement, pulp
and paper, mining and metals, chemicals and orange
juice industries. It also has a strong position
in the electrical energy sector and the Brazilian
financial sector. |
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