PE Player Blackstone bets big on Mphasis, to acquire additional 26% stake

Blackstone, Abu Dhabi Investment Authority, UC Investments and GIC to invest $2.8bn to acquire majority stake

Private equity giant Blackstone has made an open offer to acquire an additional 26 per cent stake in Bengaluru-based information technology services firm Mphasis for Rs 1,677.16 per share, or Rs 8,262 crore (around $1.1 billion).
 
The open offer has been triggered as Blackstone currently holds around 56 per cent in the company. The US firm had acquired 60.5 per cent in Mphasis in 2016 for a consideration of $1 billion. This time around, Blackstone is also bringing in strategic investors such as Abu Dhabi Investment Authority (ADIA), UC Investments, and GIC. All four will jointly hold no more