Baring Private Equity Asia Acquires 35% Stake in TELUS International
Ropes & Gray represented Baring Private Equity Asia in its acquisition of a 35 percent stake in TELUS International. The agreement values TELUS International at CAD1.2 billion, with TELUS Corporation shareholders retaining a 65 percent interest in the business.
TELUS International is a global provider of customer service, IT, and business process services to industry leaders across the telecommunications, utilities, high tech, gaming, finance, retail, e-commerce, travel and logistics, and health care sectors. TELUS International has more than 22,000 team members located in Canada, the United States, Europe, Central America and Asia.
Baring Private Equity Asia is one of the largest and most established independent alternative asset management firms in Asia, with
a total committed capital of over CAD13 billion ($10 billion).
The transaction was announced May 5 and is subject to customary closing conditions.
The Ropes & Gray team included private equity partner Neill Jakobe (Chicago); business & securities litigation partners Andrew Dale (Hong Kong) and William Sussman (New York); tax partner Elaine Murphy (Boston); intellectual property transactions counsel Thomas Burke (New York) and antitrust counsel Deidre Johnson (Boston).