A notice was given pursuant to execution of a Master Framework Agreement, inter alia, between Betaine B.V. (“Acquirer”) and Hinduja Global Solutions Limited (“HGS/ Seller”), and India Business Transfer Agreement between HGS and Betaine. The notice envisages the acquisition of 100% interest in the worldwide healthcare business process outsourcing (“BPO”) services of HGS along with certain assets, contracts and employees (“Target Business”) (“Proposed Combination”). Betaine, incorporated in the Netherlands, is an entity ultimately owned and controlled by the Baring Asia Private Equity Fund VIII (“BPEA Fund VIII”), a fund affiliated with Baring Private Equity Asia Pte. Ltd. (“BPEA”). BPEA is an international private equity firm with a focus on private equity investments in Asia.
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