British banking group Barclays Bank Plc has picked up 12.75 per cent stake in SKR BPO Services, the holding company of Intelenet Global Services.
Blackstone-owned Intelenet Global Services Pvt Ltd today announced a strategic partnership with Barclays Bank, a major global financial services provider.
Barclays, one of the investors in Intelenet, divested its stake in 2007. Barclays, however, continues its relationship with Intelenet as one of its major clients. Barclays even had a nominee on the board of Intelenet.
"Barclays has always been and will continue to be a 'Stellar Partner' for Intelenet. We are pleased to again welcome Barclays as a shareholder and are grateful to them for their unwavering support, Susir Kumar, Intelenet managing director and CEO, said, adding, "This deal goes on to demonstrate the trust and the exemplary working relationship between both the organisations over the last 6 years."
"At Blackstone we continue to be very excited about the Intelenet management team's execution of its growth strategy and the further strengthening of its partnership with Barclays. Barclays investment in Intelenet is a testament to the best-in-class delivery capabilities of Intelenet, making it even more attractive to customers worldwide, including Blackstone's portfolio companies," Akhil Gupta, chairman, Blackstone India, said.
Barclays Capital and Morgan Stanley were the bankers for this deal.