Private equity giants Carlyle Group and Advent International may jointly mount a $1-billion bid to buyout Patni Computer Systems , India’s sixth largest IT services firm, said a person directly familiar with the development.
The move could be significant and the first instance of PE majors coming together to aggressively pursue a large acquisition in India even though such buyout deals have been common in the west.
The Carlyle-Advent combine will be pitched mainly against Apax Partners, another buyout private equity, which has explored a deal at Patni Computer for at least two years. Sources added that a Japanese strategic buyer could also figure in the final lap, which will be played out in December. ...
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