Baring PE Asia To Nab $402M Stake In Indian IT Service Co.

Law360, New York (August 23, 2013, 5:06 PM EDT) -- Making yet another significant move in India's market this year, Baring Private Equity Asia Ltd. has agreed to invest at least $402 million to snap up a significant share of information technology service firm Hexaware Technologies Ltd., according to a Friday statement.

Per the deal, Baring Asia will nab a 41.8 percent stake from entities led by founder Atul Nishar and from an affiliate of equity firm General Atlantic LLC for at least $242 million, with a provision that could up the purchase price to $260...
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