Amarchand & Mangaldas and Ropes & Gray have advised Bain Capital on the $1 billion purchase of a 30-percent stake in Indian business processing and technology management firm Genpact, which was advised by Cravath, Swaine & Moore.
The sellers of the stake, private equity funds General Atlantic and Oak Hill Capital Partners, were advised by Nishith Desai Associates and Paul, Weiss, Rifkind, Wharton & Garrison.
Bain Capital paid about $1 billion, or $14.76 per share, to buy 68 million Genpact shares, Reuters reported earlier. Last month, Bain Capital was in advanced talks with the Government of Singapore Investment Corp to make a joint bid for a 40 percent stake in Genpact for $1.5 billion to $2 billion, Reuters had reported earlier this month.
Genpact is a global provider of business process and technology management services, offering a portfolio of enterprise and industry-specific services. It was formerly a GE-owned company called GE Capital International Services or GECIS. Currently it employs more than 58,500 people in various locations providing services in more than 25 languages.
The Amarchand team was led by Mumbai partners Ashwath Rau and Vandana Pai Bharucha, while Boston corporate partner Newk Stillwell led the Ropes & Gray team. The Cravath team was led by partner Sarkis Jebejian, and the Paul Weiss team included corporate partners Matthew Abbott, Neil Goldman and David Lakhdhir and tax partners Richard Bronstein and David Sicular.
Ranajit Dam is Southeast Asia Editor at ALB. Follow us on Twitter:@ALB_Magazine.
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