Ropes & Gray is advising private equity firm Bain Capital Partners on a $1 billion stake acquisition in Indian business process management company Genpact Ltd.
Investors General Atlantic Holding Co. and Oak Hill Capital Partners are selling a collective 30-percent state in the Gurgaon, India-based company. After the sale, both companies will retain a collective a 10-percent stake in Genpact. The rest of Genpact will continue to be publicly traded.
As part of the deal, Genpact will pay a special dividend to its shareholders of $2.24 per share. The deal is expected to close before the end of 2012.
Ropes & Gray has been a longtime advisor to Boston-based Bain Capital. The firm’s Boston corporate partner R. Newcomb Stillwell is leading the deal team along with corporate partners William Shields in Boston, and Alison Bomberg and Marcia Ellis in Hong Kong.
In June, Ropes & Gray advised Bain Capital on its $1.3 billion acquisition of a 50-percent stake in Japanese television shopping network Jupiter Shop Channel, from Tokyo-based trading company Sumitomo Corp. In August last year, the firm also represented Bain Capital on its $1.2 billion purchase of MYOB, an Australian maker of payroll and accounting software, from Archer Capital, an Sydney-based private equity firm.
Paul, Weiss, Rifkind, Wharton & Garrison is advising General Atlantic and Oak Hill Capital with a corporate team that includes partners Matthew Abbott and Neil Goldman in New York, and David Lakhdhir in London. The firm advised General Atlantic on its $3.8 billion purchase of ING Group’s Latin American pension and wealth management business earlier this year. In 2010, Paul, Weiss also represented Oak Hill in connection with its sale of Duane Reade to Walgreens for $1.1 billion.
Genpact has engaged a Cravath, Swaine & Moore team led by New York corporate partner Sarkis Jebejian. Last year, the firm represented Genpact on its $550 million acquisition of American IT consulting company Headstrong Corp.