Blackstone Sells Intelenet Stake For $427M

Blackstone Advisors India has sold its 67% stake in outsourcing company, Intelenet Global Services.

Blackstone Advisors India has sold its 67% stake in outsourcing company, Intelenet Global Services, The Wall Street Journal reports. Support-services provider, Serco Group, bought the stake for about $427 million, adds The Times of India.

The private equity firm had invested about $150-160 million in the outsourcing firm in 2007. The remaining 33% of Intelenet was acquired by Serco from Housing Development Finance Corporation, Barclays Bank and Intelenet’s management team.

Click here for the story from The Wall Street Journal.

Click here for the additional coverage from The Times of India.