Apax, Bain in race to buy 41 % in Genpact for $1.4 billion: report

Private equity firms Apax Partners and Bain Capital are in the race to buy the 41 per cent stake in Genpact owned by Oak Hill Capital and General Atlantic Partners, The Times of India today reported, citing banking sources briefed on the matter.

The transaction would value Gurgaon-based and New York Stock Exchange-listed Genpact at $3.4 billion (Rs18,850 crore).

The deal may be closed without a premium, said the paper, adding that, Oak Hill and General Atlantic's stake would be valued at around $1.4 billion (Rs7,762 crore).
Genpact closed yesterday at $15.24 at the New York Stock Exchange.

Genpact began as a business process services operation of GE Capital and became an independent company in 2005, after management and PE firms Oak Hill and General Atlantic acquired the Gurgaon-based company.

With 2011 revenues of $1.6 billion, Genpact is the world's largest BPO services provider with operations in India, Brazil, China, Guatemala, Hungary, Japan, Mexico, Morocco, the Philippines, Poland, the Netherlands, Romania, South Africa, Spain, the United Arab Emirates and the US.

It manages finance and accounting, collections and customer service, insurance, supply chain and procurement, analytics, enterprise application, IT infrastructure and management functions. It caters to the banking / finance, insurance, manufacturing, transportation, healthcare, pharmaceuticals, automotive, CPG/Retail and business services industry.