Blackstone To Buy Mphasis For Up To Rs 7,071 crores

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Blackstone today said it will buy out HP Enterprise's stake in Mphasis for up to Rs 7,071 crore (USD 1.1 billion), marking the largest IT deal for the US-based firm in India, said the PTI report.

Blackstone To Buy Mphasis For Up To Rs 7,071 crores
MphasiS: Quotes, News
BSE 521.55BSE Quote6.2 (1.19%)
NSE 522.65NSE Quote6.35 (1.21%)
Hewlett Packard Enterprise (HPE) currently owns 60.5 per cent of BSE and NSE-listed Mphasis.

"Blackstone will pay a purchase price of Rs 430 per share to HPE... As per the Takeover Code in India, this transaction will trigger a mandatory open offer for a purchase of additional 26 per cent shares of the company," Blackstone said in a statement.

Read more about: mphasis
Story first published: Monday, April 4, 2016, 12:40 [IST]
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