By Pamela Barbaglia and Neil Maidment
LONDON (Reuters) - British government services firm Serco expects binding offers for its Indian outsourcing unit in early April valuing the business at up to 360 million pounds ($548.28 million), three sources familiar with the matter said on Thursday.
Serco, which put its Indian business process outsourcing (BPO) arm on the block in November, has given access to confidential material to at least four buyout funds, one of the sources said, adding that due diligence will continue for the next three weeks.
A consortium of U.S. buyout fund Blackstone and Barclays is preparing a joint bid drawing on Blackstone's knowledge of the business, the sources said, pointing to Blackstone's former investment in the same company between 2007 and 2011.
But three other buyout funds -- Carlyle, Clayton, Dubilier & Rice (CD&R) and Apax -- are also lining up their offers, the sources said.
Spokesmen at Serco, Barclays, Carlyle, Apax and CD&R declined to comment while a representative for Blackstone was not immediately available for comment.
($1 = 0.6566 pounds)
(Editing by Freya Berry)
