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Blackstone And Management Team To Acquire Intelenet In An MBO Structure

Jun 26 2007

Blackstone And Management Team To Acquire Intelenet In An MBO Structure

Written by Tarachand Wanvari

Tuesday, 26 June 2007

Intelenet Global Services Pvt Ltd (Intelenet) has agreed to be acquired by an affiliate of The Blackstone Group and the management team, subject to regulatory approval. Intelenet today announced its intention for a management buy-out (MBO) that will see HDFC and Barclays transferring their ownership of Intelenet to [SPV], a company jointly owned by Blackstone and the current management team of Intelenet.

Under the terms of the transaction, Intelenet will continue to be led by Mr. Susir Kumar, CEO and the existing management team, which has been instrumental in driving the growth experienced by the company.