•  •  Dark Mode

Your Interests & Preferences

I am a...

law firm lawyer
in-house company lawyer
litigation lawyer
law student
aspiring student
other

Website Look & Feel

 •  •  Dark Mode
Blog Layout

Save preferences

Khai-Co, Wadia Ghandy on Barclays’ cross-border investment with Simmons, Simpsons

Khaitan & Co, Wadia Ghandy, Simmons & Simmons and Simpson Thacher & Bartlett have advised on Barclays Bank’s reinvestment in the outsourcing unit Intelenet involving an all-cash acquisition of a 12.75 per cent stake in its holding company SKR BPO Services Private Limited.

Khaitan & Co partners Murali Neelakantan and Arindam Ghosh led the team of lawyers for banking and financial services providers Barclays Bank on the regulatory and taxation related structuring of the transaction along with advising and negotiating with the seller group.

Wadia Ghandy partner Ankit Majmudar on the other hand was the lead counsel for SKR BPO Services which as an investment company owns stake in various outsourcing companies including Intelenet Global Services and BSE listed business outsourcing unit Sparsh Services.

Barclays Bank’s and Blackstone GPV Capital’s international counsels consisted of London-based Simmons & Simmons partners Gideon Sharp and lead associate Danielle Di Pietro and Simpson Thacher & Bartlett associate Bart Gombert respectively.

Khaitan & Co stated in a press release: “This was an important deal for Barclays and SKR and having worked with Barclays on various matters over the last two years, we are delighted to have been able to work with Barclays on successfully completing a cross border transaction which involved complex issues.”

This is for the second time Barclays has invested in Intelenet after exiting three years before. The controlling stake in Intelenet is currently held by US-based private equity firm Blackstone Group.

“Intelenet was founded in 2000 by Tata Consultancy Services Ltd. and HDFC Bank Ltd. as an equal joint venture. In 2004, Tata Consultancy sold its stake to Barclays. Three years later, the British lender and HDFC divested their stake to Intelenet’s management and staff, who, in turn, sold about a 80% stake in the firm to Blackstone Group,” reported an investment website.

Click to show 4 comments
at your own risk
(alt+c)
By reading the comments you agree that they are the (often anonymous) personal views and opinions of readers, which may be biased and unreliable, and for which Legally India therefore has no liability. If you believe a comment is inappropriate, please click 'Report to LI' below the comment and we will review it as soon as practicable.

Latest comments