Monday, 4 April 2016

Blackstone to buy 60.5% in Mphasis; open offer at Rs 457/sh: MarketMagnify

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Blackstone India has entered into a definitive agreement with Hewlett Packard to buy a majority stake in Mphasis Limited , the private-equity firm announced this morning. 

This deal represents the largest acquisition by Blackstone in India and is the largest private equity transaction in India. HP currently owns 60.5 percent of Mphasis.

Blackstone will pay a purchase price of Rs 430 per share to HP. As per the takeover code, this transaction will trigger a mandatory open offer for a purchase of additional 26 percent shares of the company.

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