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Baring Asia set to accept $3 billion Carlyle offer for Hexaware Technologies

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Baring Asia set to accept $3 billion Carlyle offer for Hexaware Technologies

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"Baring is set to go with the Carlyle Group's $3 billion bid, as it's much higher than the other bids which are around $2.5 billion only, one of the investment bankers negotiating the deal and advising the sell-side told.

Baring Asia set to accept $3 billion Carlyle offer for Hexaware Technologies
Private equity giant Baring Asia, which owns the software firm Hexaware Technologies, is set to pick the $3 billion offer from the Carlyle Group for the city-based company, according to a person with direct knowledge of the matter.
The Carlyle Group – the Washington-based multinational private equity, alternative asset management and financial services giant with over $260 billion in assets under management and specialising in private equity, real assets, and private credit – is set to pip bulge-bracket private equity giants such as Bain Capital, KKR & Co and the Paris-based outsourcer Teleperformance and is most likely to be the winner with around $3 billion bid.
All these bidders had submitted binding bids by mid-August. If the deal is materialised it will be the biggest deal in the domestic software services space.
"Baring is set to go with the Carlyle Group's $3 billion bid, as it's much higher than the other bids which are around $2.5 billion only, one of the investment bankers negotiating the deal and advising the sell-side told.
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