Hexaware gains on Baring plans to buy controlling stake

Last Updated: Mon, Aug 26, 2013 05:20 hrs

Shares in Hexaware Technologies Ltd rose nearly 6 percent on Monday after Baring Private Equity Asia agreed to buy a controlling stake in it for about $420 million.

Baring will buy 41.8 percent in the Indian outsourcing service provider from the founders and private equity investor General Atlantic for about $260 million. It will then have to make a mandatory tender offer for up to 26 percent for roughly $160 million.

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