Transferred Shares Remain Subject to Underwriters' Lock-Up
NEW YORK--(Business Wire)--Genpact Limited (NYSE:G), which manages business processes for
companies around the world, announced today that GE has agreed to
sell, in a private transaction, approximately $100 million of Genpact
common shares to an affiliate of a limited partner in one of Genpact's
other shareholders. The shares sold will be subject to the same
lock-up agreement that GE entered into with the underwriters of
Genpact's initial public offering and, consequently, no shares will
enter the public trading market as a result of the transaction.
"Genpact is a good partner and continues to provide valuable
support to our operations. This transaction is simply a part of our
normal and on-going portfolio management activities and we look
forward to a long and productive relationship," a GE spokesman noted.
Pramod Bhasin, President and Chief Executive Officer of Genpact,
said: "We welcome this diversification of our ownership base. We
continue to have an excellent relationship with GE both as a client
and as a shareholder. Our continuing significant revenue growth from
GE is a reflection on the quality of this relationship."
About Genpact
Genpact manages business processes for companies around the world.
The company combines process expertise, information technology and
analytical capabilities with operational insight and experience in
diverse industries to provide a wide range of services using its
global delivery platform. Genpact helps companies improve the ways in
which they do business by applying Six Sigma and Lean principles plus
technology to continuously improve their business processes. Genpact
operates service delivery centers in India, China, Hungary, Mexico,
the Philippines, the Netherlands, Romania, Spain and the United
States. For more info: www.genpact.com.
Genpact
David Jensen (US/Europe)
1 203-252-8562
david.jensen@genpact.com
or
Anita Trehan (India/Asia)
+91 (98) 1110 0223
anita.trehan@genpact.com
or
GE
Russ Wilkerson
1 203-581-2114
russell.wilkerson@ge.com
Copyright Business Wire 2007
