Barclays turns to AZB for Indian venture

Barclays’ in-house lawyers have teamed up for the first time with Indian firm AZB & Partners to advise the bank on its joint venture with Mumbai-based processing centre Intelenet.

A Barclays team led by senior legal counsel Sarah Gibbs and head of commercial legal Andrew Colyer led the negotiation of the share purchase, joint venture and framework services agreement, and coordinated the due diligence.

Colyer, who led the commercial work, said Barclays handled the bulk of work on the £19m deal in-house. But he said: “We wanted [AZB] to sign off on the deal because there’s a relatively fluid regulatory environment in India.”

The deal, to be completed in October, will allow Barclays to outsource more jobs to India.

Linklaters also supported the Barclays team.