PR - GE Sells $100 Million of Genpact Shares in Private Deal

Genpact Limited (NYSE:G), which manages business processes for companies around the world, announced today that GE has agreed to sell, in a private transaction, approximately $100 million of Genpact common shares to an affiliate of a limited partner in one of Genpact’s other shareholders. The shares sold will be subject to the same lock-up agreement that GE entered into with the underwriters of Genpact’s initial public offering and, consequently, no shares will enter the public trading market as a result of the transaction.

“Genpact is a good partner and continues to provide valuable support to our operations. This transaction is simply a part of our normal and on-going portfolio management activities and we look forward to a long and productive relationship,” a GE spokesman noted.

Pramod Bhasin, President and Chief Executive Officer of Genpact, said: “We welcome this diversification of our ownership base. We continue to have an excellent relationship with GE both as a client and as a shareholder. Our continuing significant revenue growth from GE is a reflection on the quality of this relationship.”