 "Carlyle, others eyeing HP's MphasiS stake")
Private equity giants Carlyle Group LP and Blackstone Group LP as well as Indian outsourcers L&T Infotech and Tech Mahindra Ltd, are lining up bids for Hewlett-Packard Co’s $1-billion stake in India's MphasiS Ltd, several sources involved in the process said.
Buyout firms Advent International and Bain Capital LLC are also in talks to bid for HP's 60.5 per cent stake in MphasiS, an information technology services exporter, said the sources, who declined to be named as details of a potential deal are not yet public.
Tech Mahindra and L&T Infotech might team up with private equity firms to make bids for the MphasiS stake, two of the sources told Reuters.
MphasiS, which generates roughly half its revenue by providing services to HP's clients, has a market value of $1.8 billion. Reports of a potential stake sale to private equity firms emerged about a month ago.
Preliminary bids for the MphasiS stake sale are likely to be invited by the end of June, sources said, and a deal could be finalised during the July-September quarter.
Buyout firms Advent International and Bain Capital LLC are also in talks to bid for HP's 60.5 per cent stake in MphasiS, an information technology services exporter, said the sources, who declined to be named as details of a potential deal are not yet public.
Tech Mahindra and L&T Infotech might team up with private equity firms to make bids for the MphasiS stake, two of the sources told Reuters.
MphasiS, which generates roughly half its revenue by providing services to HP's clients, has a market value of $1.8 billion. Reports of a potential stake sale to private equity firms emerged about a month ago.
Preliminary bids for the MphasiS stake sale are likely to be invited by the end of June, sources said, and a deal could be finalised during the July-September quarter.