Teleperformance SE (ENXTPA:TEP) and Convergys Corporation (NYSE:CVG) are reportedly looking to Acquire Intelenet Global Services. Teleperformance and Convergys are competing with Baring Private Equity Asia, CVC Capital Partners Limited and Bain Capital, LP to acquire Intelenet Global Services Private Ltd. for over $1 billion. These potential suitors have been shortlisted after the initial non-binding bids were made last month, they said.

All five are currently conducting due diligence of Intelenet. Once completed, this could be the biggest success Blackstone in its 13-year-old India portfolio with a 55-60% internal rate of return (IRR) in dollar terms. The Blackstone Group L.P. (NYSE:BX) has mandated JP Morgan to run a formal process to sell the company. When contacted Blackstone denied any such development, saying the information is inaccurate.

Teleperformance, CVC, Bain and Baring declined to comment, while Convergys did not respond to mail seeking comments as of press time May 2, 2018. ET reported on October 17, 2017 that Intelenet is weighing options to provide an exit for Blackstone, though no clear-cut plans were decided. On March 8, 2018, ET reported that firms like Bain and Convergys have been reached out for a potential transaction.