Monday, April 4, 2016

#Blackstone to buy #Mphasis from #HP

This is  the largest acquisition by Blackstone in India.HP currently owns 60.5 percent of Mphasis.HP has said the purchase by Blackstone of its shares at Rs.430 ($6.5) a share values its 60.5 percent stake at about US$825 million.As per the takeover code, this transaction will trigger a mandatory open offer for a purchase of additional 26 percent shares of the company.