TELUS Closes Transaction With Baring Private Equity Asia

TELUS TU revealed Wednesday that it closed the previously-announced transaction whereby Baring Private Equity Asia acquired a 35 percent stake in TELUS International, a global provider of customer service, IT and business process services. According to the company, the transaction valued TELUS International at about US$1 billion.

TELUS' Chief Corporate Officer, Josh Blair, commented, "TELUS International is now poised, with the backing and support of TELUS and Baring Asia, to continue its rapid growth in the years ahead."

He continued, "Under the continuing leadership of Jeffrey Puritt, President and CEO of TELUS International and now an Executive Vice-president of TELUS, I am confident that our 22,000 TELUS International team members will continue to advance our leading culture and deliver customer experience innovation for the benefit of our clients across the globe."

The stock traded 0.63 percent down on Tuesday.