GE BPO arm sold

NEW DELHI: US venture capitalists, Oak Hill Capital Partners, a $1.6-billion private equity firm and General Atlantic Partners have agreed to pay about $500 million for 60 percent of General Electric's (GE) business-processing operations in India, sources close to the deal informed.

A formal announcement is likely to be made later this day.

Experts had put a price tag of $600 million to $700 million for this deal.

Oak Hill Capital Partners is part of the Oak Hill Platforms, a series of alternative asset management partnerships managing capital worth more than $eight billion.

General Atlantic Partners, LLC is one of the world's leading direct investment firms focused exclusively on IT, process outsourcing and communications investments on a global basis.