HDFC, Barclays to sell stake in Intelenet

New Delhi, June 18: Housing Development Finance Corporation Ltd (HDFC) and Barclays Bank Plc will sell their entire shareholding in BPO firm Intelenet Global Services Pvt Ltd to SKR BPO Services Ltd (SKR).

SKR is jointly owned by the management of Intelenet and Blackstone GVP Capital Partners Mauritius V-B Ltd, a member of the global private equity investor Blackstone Capital Partners group.

Post-transaction, Intelenet will continue to provide services to Barclays for certain processes currently offshored to the country, and assist it establish a wholly-owned BPO operation in India, which will serve Barclays incremental offshoring requirements, a statement said.

The 50:50 joint venture between Barclays and HDFC has gross assets worth 107 million dollars.

UNI