3i Infotech Financial Software is selling its stake in the U.S. global billing and payments unit for around $137 million, The Wall Street Journal reports. Private equity investment firm, Cerberus Capital Management, is the buyer of the billing and payment unit.

The subsidiary of 3i Infotech is expecting to complete the transaction in 60 days, subject to customary closing conditions and any regulatory approvals. On the transaction, Raymond James & Associated will be the financial advisor to the seller, adds RTT News.

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