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Tuesday, December 9, 2014

Carlyle buys majority stake in Indian publishing services firm, (NASDAQ: CG)

Private-equity firm Carlyle Group LP said it bought a majority stake in India's Newgen KnowledgeWorks, a provider of publishing and technical services, for $32.8 million. Carlyle acquired a 54.8 percent stake in the Chennai-based company through First Carlyle Ventures III, an investment fund advised by the Carlyle Group, the U.S. firm said on Tuesday.Carlyle, which manages $203 billion globally, bought shares from Franklin Templeton Private Equity, Aureos South Asia Fund and ePlanet Capital, it said in a statement.Carlyle had earlier invested in Newgen in 2004 and exited in 2011.Newgen KnowledgeWorks caters to companies in the United States, UK and Europe.

Shares of CG fell by 2.44% or $-0.7/share to $28.02. In the past year, the shares have traded as low as $26.34 and as high as $39.38. On average, 466403 shares of CG exchange hands on a given day and today's volume is recorded at 523511.