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Construction : Deals | August 2012 | Source : Construction Update

Bain Capital to buy stake in Genpact for Rs 5,583 cr

Bain Capital has agreed to buy about 30 per cent of outsourcing firm Genpact for $1 billion (Rs 5,583 crore). The transaction is expected to close later this year. Bain will nominate four directors on Genpact’s board, replacing the General Atlantic and Oak Hill Capital nominees, Genpact said recently. The General Atlantic and Oak Hill stake in Genpact will come down to 10 per cent when the deal closes. They had invested $500 million in Genpact in 2005 when it separated from the erstwhile GE Capital. Bain will buy around 68 million shares from Genpact's existing investors General Atlantic and Oak Hill Capital at $14.76 a share. Managing $65 billion in assets, Bain will acquire the shares subject to a two-and-a-half year lock-in, the company said. Bain Capital also holds around 7 per cent stake in India’s major two-wheeler maker Hero MotoCorp indirectly, through its 19.8 per cent shareholding in investment arm Hero Investment.
 
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