Corporate Jul 31, 2012
Private equity firm Bain Capital is in talks with General Atlantic and Oak Hill Capital Partners, the two top shareholders of Genpact to buy 40 percent stake in BPO firm Genpact, an Economic Times report said.
The deal valued at $1 billion is likely to be announced soon. Private equity firm Apax Partners LLP was also competing for the stake in Genpact, the sources said.
Genpact is listed in New York but most of its employees are in India.
Private equity firms General Atlantic LLC and Oak Hill Capital Partners, the two top shareholders of Genpact with stakes of 20.1 percent each, are looking to exit the business process and technology services provider, the sources said.
Genpact, GIC and Bain declined to comment, while Apax Partners, Oak Hill and General Atlantic could not immediately be reached for comment.