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French company Teleperformance is acquiring business process outsourcing firm Intelenet from Blackstone at an enterprise value of $1 billion (Rs 6,800 crore).
J. Sagar Associates acted as Indian counsel for Teleperformance while Paul Hastings acted as international counsel.
The JSA team comprised Partner – Tony Verghese, Senior Associates Arjun Krishnamoorthy and Anup Vijay Kulkarni, Associates Kirti Singh and Soorya Pradeep and Assistant Company Secretary A. S. Nagarjun.
The JSA Competition team comprising Partners Amitabh Kumar and Vaibhav Choukse, Senior Associate Ela Bali and Associate Akansha Mehta, assisted with the CCI approval for this transaction.
Paul Hastings team included Partner Teri O’Brien, Senior Associate Melissa Garcia and Associate Spencer Young.
Simpson Thacher & Bartlett LLP advised Blackstone with a team led by Partner Michael Wolfson, along with Associates Ben Squires and Donovan Westbrook
Platinum Partners acted for Intelenet with a team led by Partner Ankit Majmudar along with Abhik Ghosh and Lohitash Sirsikar.
This is the second time Blackstone is exiting Mumbai-based Intelenet. It had first bought a stake in Intelenet in 2007 and sold it to the UK’s Serco in 2011. The PE firm bought back Intelenet from Serco in late 2015 for about $385 million. The latest exit from Intelenet will help Blackstone generate an internal rate of return, or annualised return on investment, of about 50% in dollar terms, reported VCCircle.