UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
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FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13A-16 OR 15D-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
June 2007
Barclays PLC and
Barclays Bank PLC
(Names of Registrants)
1 Churchill Place
London E14 5HP
England
(Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No x
If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b):
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This Report is a joint Report on Form 6-K filed by Barclays PLC and Barclays
Bank PLC. All of the issued ordinary share capital of Barclays Bank PLC is
owned by Barclays PLC.
This Report comprises:
Information given to The London Stock Exchange and furnished pursuant to
General Instruction B to the General Instructions to Form 6-K.
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EXHIBIT INDEX
Disposal - 18 June, 2007
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18th June 2007
BARCLAYS PLC
Barclays and HDFC to sell interest in Intelenet
Barclays Bank PLC ("Barclays") and Housing Development Finance Corporation Ltd
("HDFC") are pleased to announce that they have agreed to sell their entire
shareholding in Intelenet Global Services Pvt Ltd ("Intelenet"), an India-based
business process outsourcing ("BPO") operation, to SKR BPO Services Ltd ("SKR").
SKR is jointly owned by the management of Intelenet and Blackstone GVP Capital
Partners Mauritius V-B Ltd, a member of the Blackstone Capital Partners group, a
leading global private equity investor.
Intelenet provides business processing services to a variety of local and
international customers. Intelenet is a 50/50 joint venture between Barclays and
HDFC which was established in 2004. It has gross assets of US$107 million.
Following the conclusion of the transaction, Intelenet will continue to provide
services to Barclays in relation to certain processes currently offshored to
India. Intelenet has also agreed to assist Barclays in establishing a wholly
owned BPO operation in India which will serve Barclays incremental offshoring
requirements going forward.
David Skillen, Global Operations Principal, Barclays said: "We are pleased that
we have sold our stake to the Intelenet management. We look forward to working
with them to establish our BPO operation in India and in the continued provision
of services to Barclays."
Renu S Kamad, Executive Director, HDFC said: "HDFC launched Intelenet at a time
when the BPO sector was developing rapidly. We are happy to have been associated
with Intelenet in its journey towards growth and leadership in the BPO industry.
The BPO business today needs more focus and we believe that the new arrangement
would provide the right impetus. We see the development as a win-win for all of
us. We wish the management of Intelenet all success."
- ENDS -
For further information please contact:
Barclays
Investor Relations Media Relations
Mark Merson/James S Johnson Alistair Smith/Laura Vergani
+44 (0) 20 7116 5752/2927 +44 (0) 20 7116 6132/8335
HDFC
Mahesh Shah
+91 22 6631 6410
About Barclays
Barclays PLC is a major global financial services provider engaged in retail and
commercial banking, credit cards, investment banking, wealth management and
investment management services. We are one of the largest financial services
companies in the world by market capitalisation. Operating in over 50 countries
and employing 123,000 people, we move, lend, invest and protect money for over
27 million customers and clients worldwide. With over 300 years of history and
expertise in banking, Barclays PLC has six major businesses.
UK Banking delivers banking products and services to over 14 million retail
customers and 780,000 businesses in the UK.
Barclaycard is one of the leading credit card businesses in Europe, and has 9.8
million UK customers and 6.4 million international cards in issue.
Barclays International Retail and Commercial Banking operations have over 2
million international clients, in geographies which currently include France,
Spain, Portugal, Italy, India, Africa and the Middle East. Absa has an
additional 8.3 million retail customers in South Africa.
Barclays Capital, the investment banking division, provides corporate,
institutional and government clients with solutions to their financing and risk
management needs.
Barclays Global Investors is one of the world's largest asset managers and a
leading provider of investment management products and services. Total assets
under management at 31st December 2006 were $1.8 trillion.
Barclays Wealth serves affluent, high net worth and intermediary clients
worldwide, providing private banking, asset management, stockbroking, offshore
banking, wealth structuring and financial planning services. At 31st December
2006, total client assets were GBP93.0 billion.
About HDFC
Incorporated in 1977, HDFC the pioneer of housing finance in India has assisted
more than 3 million families to own a home of their own, through housing loans
approvals of over Rs.1,450 billion.
HDFC has been described as a model housing finance company for developing
countries with nascent housing finance markets. It has provided technical
assistance in Bangladesh, Sri Lanka and Egypt and has undertaken consultancy
assignments in various countries across Asia, Africa and East Europe.
It has been recognized among India's Best Managed Companies and today has
emerged as a financial conglomerate by promoting a bank, insurance company (for
life and general), an asset management company, a realty company, a credit
bureau, and a real estate venture capital company. The HDFC group has an asset
base of over Rs 1,700 billion and a customer base of over 15 million.
HDFC has a market capitalisation of over USD 11 billion. Foreign Equity Holding
in HDFC is at 80%.
Disclaimer
This document contains certain forward-looking statements within the meaning of
Section 21E of the US Securities Exchange Act of 1934, as amended, and Section
27A of the US Securities Act of 1933, as amended, with respect to certain of
Barclays plans and its current goals and expectations relating to its future
financial condition and performance. These forward-looking statements can be
identified by the fact that they do not relate only to historical or current
facts. Forward looking statements sometimes use words such as 'aim',
'anticipate', 'target', 'expect', 'estimate', 'intend', 'plan', 'goal',
'believe', or other words of similar meaning. Examples of forward-looking
statements include, among others, statements regarding Barclays future financial
position, income growth, impairment charges, business strategy, projected levels
of growth in the banking and financial markets, projected costs, estimates of
capital expenditures, and plans and objectives for future operations.
By their nature, forward-looking statements involve risk and uncertainty because
they relate to future events and circumstances, including, but not limited to,
UK domestic and global economic and business conditions, market related risks
such as changes in interest rates and exchange rates, the policies and actions
of governmental and regulatory authorities, changes in legislation, and the
impact of competition - a number of which factors are beyond Barclays control.
As a result, Barclays actual future results may differ materially from the
plans, goals, and expectations set forth in Barclays forward looking statements.
Any forward-looking statements made by or on behalf of Barclays speak only as of
the date they are made. Barclays does not undertake to update forward-looking
statements to reflect any changes in Barclays expectations with regard thereto
or any changes in events, conditions or circumstances on which any such
statement is based. The reader should, however, consult any additional
disclosures that Barclays has made or may make in documents it has filed or may
file with the SEC.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, each of
the registrants has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
BARCLAYS PLC
(Registrant)
Date: June 18, 2007 By: /s/ Patrick Gonsalves
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Patrick Gonsalves
Deputy Secretary
BARCLAYS BANK PLC
(Registrant)
Date: June 18, 2007 By: /s/ Patrick Gonsalves
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Patrick Gonsalves
Joint Secretary