Blackstone to Buy Intelenet

Blackstone, the buyout powerhouse, is backing the management buyout of Intelenet, an Indian business process outsourcing company. The consideration has not been disclosed but the deal is thought to be worth around US$200m. Intelenet is being sold by Barclays Bank and Housing Development Finance Corporation, which set the business up as a joint venture in 2004. www.blackstone.com