GO
Loading...

Barclays and Housing Development Agree to Buy Intelenet Global

AP
Monday, 18 Jun 2007 | 4:25 AM ET

Barclays Bank and Housing Development Finance Corporation said Monday they agreed to sell their stakes in Intelenet Global Services of India in a management buyout.

Financial terms of the deal were not disclosed.

Barclays and HDFC, who launched the 50-50 joint venture in 2004, are selling to SKR BPO Services, a management team backed by Blackstone GVP Capital Partners Mauritius V-B, a member of the Blackstone Capital Partners group.

Intelenet has assets of $107 million (80 million euros) and is based in Mumbai.

Intelenet will continue to provide services to Barclays, the companies said.

  Price   Change %Change
BARC
---

Featured

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    › Learn More

Don't Miss

U.S. Video