News: Baring PE Asia Ltd is likely to acquire NIIT Technologies Ltd

#Csuite

Baring PE Asia Ltd is likely to acquire NIIT Technologies Ltd

Baring Private Equity Asia Ltd is expected to acquire NIIT Technologies Ltd. for Rs. 10,000 crore.
Baring PE Asia Ltd is likely to acquire NIIT Technologies Ltd

Baring Private Equity Asia Ltd is expected to acquire NIIT Technologies Ltd. 

It is reported that the acquisition may value at Rs.8,000-10,000 crore. According to the people aware of the matter shared that Credit Suisse has been given the directive by NIIT to find a suitable buyer.

It was reported in media that the deal would come at a premium for the shareholders of NIIT Technologies and will value the company at ₹8000-10,000 crore.

As per the reports, Baring PE Asia will first buy the 30.50 percent stake held by the promoters of NIIT Technologies. At the end of December, NIIT Ltd held 23.58 percent stake, Rajendra Singh Pawar 10,0held 3.53 percent and Vijay Kumar Thadani held 3.53 percent in NIIT Technologies.

The stake purchase will prompt an open offer allowing Baring PE Asia to boost its stake further and gain control of the company.

It is also speculated that after the buyout, Baring PE Asia may plan to merge NIIT Technologies with Hexaware Technologies Ltd to create an IT services entity that will compete more closely with competitors like Mindtree Ltd, L&T Infotech Ltd, Mphasis Ltd, and Oracle Financial Services Software Ltd, according to the second person.

Topics: C-Suite

Did you find this story helpful?

Author

QUICK POLL

Do you think India Inc. has been successful in empowering its women workforce?

On News Stands Now
q_auto,f_auto/v1549881574/mag-february-2019.png

Subscribe now to the All New People Matters in both Print and Digital for 3 years.

The Fourth Industrial Revolution is ushering in cyber-physical systems involving entirely new capabilities for people and machines. Jobs are changing and new jobs are emerging that we couldn’t have imagined just a few years ago. Workflows are changing. New skills are emerging, and old ones are being cast aside. But are we really ready for this new world order?

Subscribe
And Save 59%

Subscribe now