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India: Baring PE Asia secures majority stake in Hexaware

 |  September 29, 2013

Baring Private Equity Asia has secured a majority stake in Hexaware Technologies, safeguarding its ownership of the firm regardless of how Hexaware sells on the open market.

Reports say Baring PR Asia was first cleared to acquire a majority stake in Hexaware by the Competition Commission of India.

Baring PE Asia will acquire the stakes from Nishar and General Atlantic in a deal worth more than $240 million.

The deal will land Baring PE Asia with a 50.56 percent share of Hexaware.

Full Content: Reuters

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