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

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 514.60BSE Quote6.7 (1.30%)
NSE 517.75NSE Quote3.15 (0.61%)
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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