Bain Capital gets go-ahead for Genpact stake purchase

US private equity firm Bain Capital Partners has won US antitrust approval to buy a major stake in technology outsourcing services provider Genpact, the Federal Trade Commission said on Friday.

Bain, which was co-founded by Republican US presidential candidate Mitt Romney, will pay about USD 1 billion, or USD 14.76 per share, to buy 68 million Genpact shares, the company said in a statement in early August.

The FTC announced the antitrust approval in a list that it puts out several times a week.

Genpact, which has a market value of about USD 3.82 billion, was set up by General Electric Co in 1997 in Gurgaon to provide back-office services to its group companies. It was spun off as a separate company in 2005.