The Hindu Business Line : Barings plans to sell MphasiS stake

MPHASIS BFL has said that Barings Pvt Equity Partners, the largest shareholders in the company (36 per cent share) has appointed an investment banker to explore the sale of its stake in the company, based on `significant premiums for unsolicited offers' received by Barings.

"Barings and the company management team are together working value enhancement as the company's key objective," MphasiS said in a press release.

Mr Rahul Bhasin of Barings has been quoted saying that "given the current valuation of the company, there has been a lot of unsolicited interest in the company at significant premiums. With a view to exploring the potential opportunity to maximise shareholder value, we have retained an investment bank to advise us."

Mr Jerry Rao, Chairman/CEO of MphasiS/BFL, said the company would facilitate initiatives to enhance shareholder value and would explore other shareholder value optimisation mechanisms such as overseas listing at the appropriate time.

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