Hong Kong-based private equity firm Baring Private Equity (PE) Asia Ltd intends to purchase Indian information technology company NIIT Technologies Ltd valued between 8,000 crores to 10,000 crore rupees ($1.1 billion to $1.4 billion).
Under the pact, Baring PE Asia will first acquire the 30.58 percent stake of NIIT Technologies for about $351.5 million.
Swiss financial services company Credit Suisse has been given the mandate by NIIT Technologies to find a suitable buyer.
Baring PE Asia's market capitalization stands at around $1 billion.