September 7, 2012 / 3:56 PM / 5 years ago

Bain Cap gets go-ahead for Genpact stake purchase

WASHINGTON (Reuters) - Private equity firm Bain Capital Partners has won U.S. antitrust approval to buy a major stake in technology outsourcing services provider Genpact Ltd, the Federal Trade Commission said on Friday.

Bain, which was co-founded by Republican U.S. presidential candidate Mitt Romney, will pay about $1 billion, or $14.76 per share, to buy 68 million Genpact shares, the company said in a statement in early August.

The FTC announced the antitrust approval in a list that it puts out several times a week.

Genpact, which has a market value of about $3.82 billion, was set up by General Electric Co in 1997 in the north Indian city of Gurgaon to provide back-office services to its group companies. It was spun off as a separate company in 2005.

Reporting by Diane Bartz; Editing by Kevin Drawbaugh and Gerald E. McCormick

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below