KKR frontrunner to buy 68 percent stake in Firstsource
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KKR frontrunner to buy 68 percent stake in Firstsource
Mumbai: Kohlberg Kravis Roberts, a U.S. private-equity plans to buy 68 percent stake in Indian back-office service provider Firstsource Solutions. To make this deal happen, KKR is already in talks with ICICI Bank, Singapore state investor Temasek Holdings and U.S. based banking technology group Metavante. According to the sources, the deal has not been finalized, but it seems to be about $250 million. It is also being reported in the media that a U.S. private-equity firm Carlyle Group was also aiming to get the controlling, but was not a strong contender in the process. Currently Firstsource has a market value of $300 million. In the first three months of 2010, private equity deals in India totaled about $2 billion, Venture Intelligence said. When Reuters and Economic Times tried to talk to ICICI and First source on this issue, they declined to comment

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