Bain Capital looking to acquire a 30 percent stake in Genpact

Bain Capital looking to acquire a 30 percent stake in GenpactBain Capital Partners, a US private equity firm, is planning to acquire a 30 per cent stake in India's largest back office services provider, Genpact.

Bain Capital is looking to pay about $1 billion or about to buy 68 million Genpact shares from General Atlantic and Oak Hill Capital Partners. The acquisition will reduce the combined of the company's two largest stake holders to 10 per cent.

Genpact has a market value of about $3.82 billion. The company was set up by General Electric Co (GE. N) in 1997 in Gurgaon. It was set up to back-office services to its group firms. Genapct emerged as a separate company in 2005.

Chief Executive N. V. Tyagarajan said, "Both General Atlantic and Oak Hill Capital were investors for seven years. They helped us transform from a captive (unit) to a now diversified business that does business process management and technology services across the globe."

The shares of Genpact rose to its highest level in two years after reports suggested that Bain Capital Partners are looking to acquire a stake in the company. Genpact will pay a special dividend of $2.24 per share to all of its shareholders before the stake sale.