Bain in talks with GIC for Genpact Stake bidding

by Tom Carlson | Friday, Jul 13, 2012 | 481 views

Bain Capital, the US private equity firm, is in advanced stage of talks with the GIC or the Government of Singapore Investment Corp for making a joint bid for securing a 40 per cent stake in the Genpact, the outsourcing company, for $1.5 to $2 billion. Also what has become known through the sources having close knowledge of the issue, Apax Partners LLP, the private equity firm, is also in the race for acquiring a stake in Genpact.

Even though Genpact is listed in New York, most of the employee workforce that it has , is based in India.

Oak Hill Capital partners and General Atlantic LLC, the private equity firms, which are holding a stake of 20.1 per cent each in Genpact, being the top 2 shareholders are looking to exit the business of the process and technology services provider.

An agreement is likely to be reached by the end of this year, as confirmed by 2 of the sources. The sources declined to reveal the names as they have been not authorized to speak to the media.

Both Genpact and Bain declined to comment on the proceedings, while Oak Hill , Apax partners and general Atlantic could not be reached for comments immediately.

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