Private equity firm Apax Partners has emerged as the frontrunner to acquire a stake in engineering services provider Quest Global Services Pte Ltd, two people with knowledge of the development said.
Apax Partners is offering at least $1 billion for an approximately 40% stake in Quest Global Services, one of the people cited above said.
The transaction will see Quest shareholders Advent International and Bain Capital sell their shares, along with some early investors, they added, requesting anonymity. GIC and the founders may also participate in this transaction by selling some shares, person cited above said.
Quest Global Services was founded by Ajit Prabhu and Aravind Melligeri in Bengaluru in 1997, though it shifted headquarters to Singapore later.
In 2016, Advent, Bain and Singapore's sovereign fund GIC paid around $350 million (then ₹2,500 crore) to acquire shares in Quest from Warburg Pincus and other small investors.
Diese Geschichte stammt aus der January 16, 2023-Ausgabe von Mint Mumbai.
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Diese Geschichte stammt aus der January 16, 2023-Ausgabe von Mint Mumbai.
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