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Bain, Baring Vying for $2 Billion Outsourcing Firm VXI

  • Sale of VXI entering final stages, a buyer could emerge soon
  • Bain, Baring have lined up financing for potential transaction

Bain Capital and Baring Private Equity Asia are among firms considering bids to acquire an outsourcing business from their private equity rival Carlyle Group Inc., according to people familiar with the matter.

A sale of VXI Global Solutions is entering the final stages and a buyer could emerge as early as in the coming weeks, the people said, asking not to be identified because the matter is private. Carlyle has been working with a financial adviser to find suitors for the company, which could be valued at $1.5 billion to $2 billion in a deal, Bloomberg News reported in September.