GE sells 60% stake in Indian BPO arm
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New Delhi: In one of the largest deals in the $3.6 billion Indian BPO industry, US-based conglomerate GE announced it will sell 60 per cent stake in its Gurgaon-based BPO arm, GECIS, to private equity firms General Atlantic Partners and Oak Hill Capital
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Boston Communications Group Inc. of Bedford, a major US provider of prepaid wireless services, yesterday said it has agreed to be purchased by an Indian company for $65 million.
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India's Tata Steel  won a bid battle for Anglo-Dutch steelmaker Corus Group   on Wednesday by agreeing to offer investors 608 pence per share in cash, or 5.75 billion pounds ($11.3 billion).
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The General Electric Companyâs Japanese consumer lending unit said it would close 60 percent of its branches and cut 15 percent of its employees as part of a restructuring plan. The GE Consumer Finance Company, a Tokyo-based lender, will shut 73 of its 115 branches and 200 of its 1,342 unmanned outlets, the firm said. The company said it would also cut as many as 400 employees out of 2,600 by the end of June.
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NEW DELHI, NOV 8: The back office unit of General Electric Co, which sold a 60 per cent stake to two global equity firms, said on Monday it had no market listing plans.
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Merrill Lynch plans to sell its capital lending business to General Electric's commercial finance arm.
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Diversified manufacturer General Electric Co. (GE.N: Quote, Profile, Research) said on Friday it boosted its quarterly dividend by 10 percent and earmarked up to $15 billion for share repurchases over the next three years.
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(InfoWorld) - Oracle Corp. intends to acquire another 20 percent of the equity of Indian financial software company I-Flex Solutions Ltd. Oracle informed the Bombay Stock Exchange (BSE) in Mumbai on Wednesday of its intention. Oracle has offered to buy 16.63 million equity shares in I-Flex for Indian Rupees 1,475.00 (US$32) per share. The deal will total about $531 million if I-Flex shareholders accept the offer, which opens Nov. 6 and closes Nov. 25. Oracle of Redwood Shores, California, already holds a majority stake in I-Flex, based in Mumbai. The company announced last month that it would invest $125 million in I-Flex to increase its stake from 52.5 percent to 55.1 percent. The investment would help I-Flex fund its $122.6 million cash acquisition of Mantas Inc., a vendor of anti-money laundering and compliance software and services in Herndon, Virginia, I-Flex said. Oracle had said in August that it intended to increase its stake in I-Flex to meet Indian regulations regarding the acquisition of shares and takeovers. A number of multinational companies that have bought stakes in Indian companies, have then bought out joint venture partners or minority shareholders. In 2003, Hewlett-Packard Co. (HP) bought out the public share holding in Digital GlobalSoft Ltd., a software development and services subsidiary in Bangalore in which it had a majority holding. HP said at the time that it did not want a listed subsidiary in India because then it would be accountable to two sets of shareholders -- HPâs and Digital GlobalSoft's. IBM Corp. also bought out its joint venture partner, the Tata Group, to run its Indian operation as a wholly owned subsidiary. Oracle has, however, stated that it would like to retain the independence of the management and operations of I-Flex.
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General Electric Co. completed the sale of a majority stake in its global outsourcing business to two U.S.-based equity firms for &#36;500 million, the conglomerate said Friday.
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BRITISH Telecom today announced the sale of its stake in one of the worldâs largest satellite companies for Â£363 million. The telecoms giant said it was offloading its 15.8 per cent holding in Paris-based
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Citigroup  is keen on selling 80  percent of its business process outsourcing (BPO) arm in India  for $700-$750 million, the Mint said on Tuesday, on the heels  of Blackstone&#39;s  acquisition of a back-office firm.
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General Motors said it was buying 50 percent of the Italian diesel engine maker VM Motori from Penske Corporation.
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International Business Machines Corp. is selling a majority stake in its pioneering personal computer business to China&#39;s biggest computer maker, Lenovo Group Ltd.
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LONDON (CBS.MW) -- General Electric Co. (GE) said it will sell a majority interest in its India-based global business-processing operation GE Capital International Services for $500 million in cash to private
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Wireless Internet company Tom Online Inc. on Friday said it signed a definitive agreement to buy a majority stake in Indiagames Ltd.
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General Electric Co. GE.N said on  Friday that two private investment firms completed a deal to  buy a majority interest in its India-based back office unit.
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General Electric Co. (GE.N: Quote, Profile, Research) on Monday said it would buy the Edwards Systems Technology business from SPX Corp.