Carlyle Group has offloaded its majority stake in Chennai-based publishing BPO Newgen Knowledge Works for an undisclosed amount, The Wall Street Journal reports. The stake was sold to a consortium of private equity and venture capital firms.
The investment was led by Franklin Templeton joined by Silicon Valley-based ePlanet Capital and Aureos South Asia Fund. Carlyle acquired the controlling stake for $9.4 million via its First Carlyle Ventures III fund in 2004.
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