CCI approves Blackstone and Mphasis deal
The Dollar Business Bureau The Competition Commission of India (CCI) on Monday cleared the multi-billion dollar deal of Blackstone to acquire more than 50% stake in Mphasis from Hewlett Packard (HP) enterprise. The regulator declared on its website that it has cleared the deal and that Marble II Pte Ltd., a part of Blackstone Group, would complete this acquisition. In April, Blackstone had announced that it will acquire around 50% stake of Hewlett-Packard Enterprise (HPE) in Mphasis for over Rs.7,071 crore, marking it the largest IT deal for a US-based firm in India. HP owns 60.5% stake in Mphasis. Blackstone may pay a purchase price of Rs.430 per share to Hewlett-Packard Enterprise. This transaction would generate a mandatory open offer for a purchase of other 26% ...
Blackstone plans to buy HP's stake at staggering price
The Dollar Business Bureau World’s largest private equity firm Blackstone Group on Monday announced it is buying global tech giant Hewlett Packard Enterprise’s (HPE) majority stake in the Indian outsourcing firm Mphasis Ltd. for up to $1.1 billion. In what the company claims its biggest acquisition in the Indian market, Blackstone will buy a 60.5% stake from HPE for $6.49 (Rs.430) a share. The company said the transaction will be followed with a mandatory open offer to acquire additional 26% stake in Mphasis for Rs.457.54 a share, in line with the Indian acquisition rules. According to Blackstone, the purchase price, in lieu with a counter to the offer, is likely to vary between Rs.54.66 billion and Rs.70.71 billion ($825 million and $1.1 billion). Other companies ...
