Citigroup Inc., which operates bank branches in Connecticut, said today it completed the sale of its India-based business process outsourcing unit Citigroup Global Services Ltd. to Tata Consultancy Services Ltd., India’s largest software services provider.
Citigroup said it will receive $512 million in cash. It agreed to sell the business to Tata in October. At that time, the companies also signed a contract that said Tata will provide outsourcing services to Citigroup and its affiliates for the next 9 ½  years.
Citigroup will pay $2.5 billion under that contract. (AP)
