Teleperformance may buy Intelenet; Zee-RBNL deal hangs in the balance
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French technology firm Teleperformance is set to acquire Blackstone-controlled business process outsourcing firm Intelenet Global Services Pvt. Ltd for around $900 million to $1 billion, The Economic Times reported, citing multiple people aware of the development.

Intelenet has also received interest from Carlyle, Goldman Sachs Principal Investment Area, KKR-backed Webhelp and business process services company Conduent, the report added.

Blackstone has given the mandate to JPMorgan to conduct the sale process, the report said.

VCCircle had reported in February that Blackstone might be considering a quick exit from its investment in Intelenet.

Blackstone had, in September 2015, signed an agreement with UK-based Serco Group to pick up a majority stake in its private sector BPO operations under Intelenet for about $385 million.

Intelenet has more than 55,000 employees operating across 66 centres and 8 countries in the world, according to its LinkedIn.

Teleperformance had, in 2014, acquired Aegis’ BPO units in US, Philippines and Costa Rica for $610 million.

In another report, The Economic Times said that media baron Subhash Chandra-led Zee Group is in discussions with Anil Ambani-led Reliance Broadcast Network Ltd (RBNL) for reduction in the value of an acquisition deal announced in November 2016.

In 2016, Anil Ambani-led Reliance Capital Ltd said it would sell its radio and television businesses to Zee Group for Rs 1,900 crore ($283 million) including debt.

The deal involved RBNL, a unit of Reliance Capital, signing a pact with Zee Media Corporation Ltd to sell a 49% stake in its radio broadcast business. Simultaneously, Zee Entertainment Enterprises Ltd was to acquire 100% of Reliance Group’s general entertainment TV business.

Citing a person aware of the development, the report said Zee Group realised that it was paying too high a price for RBNL business and now wanted to renegotiate.

The spokespersons for Zee and Reliance told the financial daily that deal the was not called off and was awaiting regulatory approvals.

Meanwhile, Bloomberg reported that Danish beer major Carlsberg A/S is planning an initial public offering of its Indian unit, which had begun operations in 2007.

Citing people aware of the development, the report said that Carlsberg is in the process of appointing investment bankers to manage the share sale.

In India, the beer maker has eight breweries and commands a market share of 17%, according to its latest annual report.

Tuborg is Carlsberg’s largest brand in the country. It accounted for 86% of volumes and 81% of net revenue.

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