Baring Private Equity Asia is set to acquire a minority stake in the global arm of Canadian telecommunications giant Telus Corp. In a statement, a deal where Baring Asia had purchased a 35% stake has been revealed. Telus shareholders are set to retain a 65% stake in the international unit.
The agreement is still subject to closing conditions. Telus International President Jeffrey Puritt was quoted as saying, “with Baring Asia’s close to 20 years’ exceptional experience developing and growing companies through insightful, strategic counsel, a strong Asian market presence and an extensive global network, we have found the right partner for Telus International.”
