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| Exchange Disseminated Time | HOV Services Ltd has submitted to BSE a copy Press Release dated May 02, 2011 with respect to HOV Services, LLC and SourceCORP Inc. completes its previously announced merger.
Press Release :
"HOV Services Limited announced today that it has completed previously announced merger of its indirect subsidiary HOV Services LLC ("HOV Services") with SOURCECORP, Inc. ("SOURCECORP"), a portfolio company of Apollo Management V, L.P. The new name of the combined company will be SourceHOV Inc., reflecting the union of our two companies and our expanded capabilities.
Morgan Stanley & Co. Incorporated acted as global financial advisor to HOVS with Willkie Farr & Gallagher, LLP, as international legal counsel, and Ernst and Young, LLP as financial consultants.
The combined company has secured financing from consortium of global banks led by UBS Investment Bank, Credit Suisse and Jefferies, totaling $625 million in the aggregate to refinance each company's existing debt and provide working capital for growth." |
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