From Rediff Biz:
Oak Hill Capital Partners, a $1.6-billion private equity firm and General
Atlantic have agreed to pay about $500 million for 60 per cent of General
Electric's business-processing operations in India, sources close to the deal
GE Capital Services is the leader in offshoring services to India. Set
up in 1997, the company employs over 12,000 people in eight sites in India in
four cities. It has five centres -- one each at Gurgaon, Bangalore and Jaipur --
and two in Hyderabad.
The golden question is, will GE plan to sell off the remaining 40% stake also? If so, who else will bid for it? And how will GE 'dis-engage' its management control from GECIS?
The other interesting point was that GE valued GECIS at $ 1 billion, and so does that mean the deal was overvalued?
Interesting times ahead !