Monday, Intelenet Global Services Pvt Ltd, an Indian provider of Business Process Outsourcing or BPO services, announced a deal to be purchased by an affiliate of Blackstone Group and the company's current management team. The company also revealed its intention for a management buy-out, or MBO in which Mumbai, India-based HDFC Bank Ltd. and UK-based financial services company Barclays Plc (BARC.L, BCS, BCLYF.PK) will transfer their Intelenet ownership to SPV, a company jointly owned by Blackstone and the current management team of Intelenet. Intelenet, incorporated in 2000, provides services to over 60 local and international clients from 18 locations across India. As per the deal, Intelenet's Chief Executive Officer Susir Kumar will continue leading the company, along with the existing management team. Following the transaction, Intelenet will continue providing business-processing services to all its current customers including Barclays.While commenting on the buy-out, Mr. Kumar said, The development will enable us to continue with our ambitious growth plans. With the present management team continuing to be in charge of operations, it will represent a seamless change of ownership and business as usual for all our stakeholders. KPMG was the advisor for the transaction. Blackstone is one of the largest independent alternative asset managers in the world. BARC.L is currently trading at 749 pence on the LSE, up 8 pence or 1.08%, on a volume of 56.23 million shares. On the NYSE, BCS closed Friday's trade at $59.12, up $0.63 or 1.08%, on a volume of 280,700 shares. BCLYF.PK gained $0.65 and traded at $14.65 on Friday.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.