GENPACT LIMITED (NYSE:G) Files An 8-K Other Events
Item8.01 Other Events.
On March29, 2017, Genpact Limited (Genpact) entered into an
accelerated share repurchase agreement with Morgan Stanley Co.
LLC (the Dealer) to repurchase an aggregate of $200 million of
Genpacts common shares. The accelerated share repurchase
agreement was entered into to Genpacts existing share repurchase
program. Genpact expects to fund the accelerated share repurchase
transaction through a combination of surplus cash on its balance
sheet, operating cash flows and net proceeds from the recently
completed private offering by Genpacts wholly-owned subsidiary,
Genpact Luxembourg S. r.l., of its 3.700% senior notes due 2022.
Under the terms of the accelerated share repurchase agreement,
Genpact made a $200 million payment to the Dealer on March30,
2017 and received from the Dealer on the same day an initial
delivery of 6,578,947 Genpact common shares based on the closing
price of Genpact common shares on March29, 2017. The final number
of Genpact common shares to be repurchased from the Dealer will
be based on the volume-weighted average share price of Genpacts
common shares during the term of the applicable transaction, less
a discount and subject to adjustments to the terms of the
accelerated share repurchase agreement. At settlement, under
certain circumstances, the Dealer may be required to deliver
additional Genpact common shares to Genpact, or under certain
circumstances, Genpact may be required either to deliver its
common shares or to make a cash payment to the Dealer. The final
settlement of the transaction under the accelerated share
repurchase agreement is expected to be completed by the end of
the fourth quarter 2017.
A copy of the press release announcing the execution of the
accelerated share repurchase agreement is attached hereto as
Exhibit99.1.
Item9.01. Financial Statements and Exhibits.
(d)Exhibits:
| Exhibit99.1 | Press release dated March30, 2017 |
About GENPACT LIMITED (NYSE:G)
Genpact Limited (Genpact) is engaged in providing digitally-powered business process management and services. The Company designs, transforms and runs a combination of processes, as well as provides solutions that combine elements of several of its service offerings. The Company offers various vertical activities, which include banking and financial services, insurance services, capital markets, consumer product goods services, life sciences and pharmaceutical services, infrastructure and manufacturing services, healthcare and high tech services. In addition to these vertical activities, it also offers finance and accounting (F&A) services, analytics and research, business consulting services, enterprise risk consulting, supply chain and procurement services, enterprise application services, information technology (IT) management services, and collections and customer services. The Company offers solutions, including Smart Enterprise Processes (SEP) and Genpact Digital. GENPACT LIMITED (NYSE:G) Recent Trading Information
GENPACT LIMITED (NYSE:G) closed its last trading session up +0.02 at 24.76 with 819,581 shares trading hands.
