Blackstone has bought HDFC and Barclays’ stak
e in Intelenet for nearly $200 million. A Special Purpose Vehicle (SPV) has been launched for acquiring the stake. Blackstone would now hold 80% stake in the BPO operator. The board of Intelenet will now have two representatives from Blackstone India and two from Blackstone New York. However, as per the agreement, the management team of Intelenet would continue to lead the BPO and Intelenet would carry on providing services to its clientele including Barclays. Industry experts are of the opinion that this buyout is the largest Management Buy Out in the BPO sector.
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e in Intelenet for nearly $200 million. A Special Purpose Vehicle (SPV) has been launched for acquiring the stake. Blackstone would now hold 80% stake in the BPO operator. The board of Intelenet will now have two representatives from Blackstone India and two from Blackstone New York. However, as per the agreement, the management team of Intelenet would continue to lead the BPO and Intelenet would carry on providing services to its clientele including Barclays. Industry experts are of the opinion that this buyout is the largest Management Buy Out in the BPO sector.For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2007
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