FLORHAM PARK, N.J., June 28, 2018 /PRNewswire/
-- Conduent Incorporated (NYSE: CNDT) today announced
it has completed the sale of its commercial vehicle operations (CVO) business to investment funds managed by Alinda Capital
Partners, as previously announced May 18, 2018.
The sale is a part of the company's previously announced plan to divest approximately $1 billion
in revenue associated with non-core assets and to focus on serving large enterprise customers.
Citigroup Global Markets Inc. served as exclusive financial advisor and Cravath Swaine & Moore LLP served as legal counsel
to Conduent.
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About Conduent
Conduent creates digital platforms and services for businesses and governments to manage millions of interactions
every day for those they serve. We are leveraging the power of cloud, mobile and IoT, combined with technologies such as
automation, cognitive and blockchain to elevate every constituent interaction, driving modern digital experiences that are more
efficient, helpful and satisfying.
Conduent's differentiated offerings touch millions of lives every day, including two-thirds of all insured patients in the U.S. and nearly nine
million people who travel through toll systems daily. Whether it's digital payments, claims processing, benefit administration, automated
tolling, customer care or distributed learning – Conduent serves a majority of the Fortune 100 companies and more than 500
government entities. Learn more at www.conduent.com.
About Alinda
Alinda Capital Partners is one of the world's largest and most experienced infrastructure investment firms.
Alinda is a long-term investor in infrastructure assets that provide essential services to communities. Alinda's
infrastructure businesses serve over 100 million customers annually in more than 550 cities globally, and are run by a
workforce of over 80,000 people. To learn more https://www.alinda.com/
Note: To receive RSS news feeds, visit www.news.conduent.com. For open commentary, industry perspectives and views, visit http://twitter.com/Conduent, http://www.linkedin.com/company/conduent or http://www.facebook.com/Conduent.
Conduent is a trademark of Conduent Incorporated in the United States and/or other
countries.
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SOURCE Conduent Incorporated