GIC in stocks for Genpact talk about bid: sources

INDIA:  U.S. personal value finance organization Bain Investment is in innovative shares with the Govt of Singapore Investment Corp (GIC) to make a combined bid for a 40 % discuss in IT freelancing organization Genpact (G.N) for $1.5 million to $2 million, three resources with direct knowledge of the matter said.
Private value organization Apax Associates LLP is also competitive for the discuss in New York-listed Genpact, the resources said, decreasing to be determined because they were not authorized to talk with the press.

Most of Genpact’s workers are in Indian, where IT freelancing companies have flourished by offering European companies with solutions such as handling insurance statements, handling payrolls and customer support at dramatically cheaper.

Private value companies Common Ocean LLC and Oak Mountain Investment Associates, the two top investors of Genpact with levels of 20.1 % each, are looking to quit the organization, the resources said.
A deal is predicted to be finished by the year-end, two of the resources said.
Genpact, GIC and Bain dropped to thoughts, while Apax Associates, Oak Mountain and Common Ocean could not instantly be achieved for thoughts.

General Ocean may offer its full 20 % having in Genpact or maintain a small discuss and offer it later through additional discuss deals in the United Declares, the resources said.
Genpact, which has a market value of about $3.7 million, was set up by Common Power Co (GE.N) in 1997 in Gurgaon to provide back-office solutions to its team companies.
In 2004, Common Ocean and Oak Mountain together purchased a 60 % discuss in the organization from Common Power and it became an separate company.
Genpact, the 7th biggest IT and back-office company in Indian according to industry team Nasscom, was detailed on the New You are able to Inventory Exchange in Aug 2007. The stock dropped 0.5 % on Friday to $16.37.

Citigroup (C.N) and Morgan Stanley (MS.N) are handling the discuss sale process, the resources said.
Bain, the personal value finance organization co-founded by Republican presidential optimistic Glove Mitt romney, has finished fundraising events for its second Japan finance, ending at $2.3 million, one of its mature professionals said on Wednesday.
It had previously discussed with other would-be partners about becoming a member of it in a bid for the Genpact discuss, resources said.

U.S.-listed software organization iGate (IGTE.O), supported by Apax Associates, last season purchased a majority discuss in India’s Patni Computer Systems for $1.2 million.