Bain Close to Ceding Control of Latin America Call Center Giant

Bain Capital LP is preparing to hand its controlling stake in call center firm Atento SA to creditors after a share-price collapse shrunk the company’s value to less than a fifth the size of a loan secured against the private equity investor’s stake.

The U.S. private equity firm is in talks with investors led by HPS Investment Partners and GIC Pte., which hold most of the loan worth about $400 million, according to people familiar with the matter. The discussions involve a plan to replace board directors that Bain appointed, the people said, asking not to be named discussing private information.