(by Fiona Mitchell)

General Electrics said Monday its stake in GE Capital International Services, back office subsidiary in India, would be sold to attract more customers to company’s unit.

The company’s back-office business accounts for $3.6 billion and the deal is expected to be the largest in GE back-office industry.

"This transaction allows us to offer our quality business process services to an expanding roster of leading companies worldwide," said Pramod Bhasin, a president and CEO of GE Capital International Services. "We will now have unrestricted access to the world market," he added.

General Electrics says the deal will be completed in six months. General Atlantic Partners and Oak Hill Capital Partners are expected to buy as much as 60% stake in GECIS, the company said in its statement. 40% will be hold by GE.

The company expects to get as much as $500 million from the deal.

"It’ll probably help them reinvest into more qualitative lines of business. They have got a good price for what they set up in 1997," said R.K. Gupta, chief executive at Credit Capital Asset Management.