Blackstone plans to increase its US $1.1 billion stake in India

Blackstone (87.22, 4.26, 5.14%) said on Monday that it plans to buy another 26% stake in mpasis, an Indian IT outsourcing service provider, for 82.6 billion rupees (US $1.1 billion).

lackstone plans to increase its US $1.1 billion stake in India

Blackstone said it would buy the shares at 1677.16 rupees a share, slightly below mpasis’s closing price of 1696.5 rupees on Friday.

In 2016, Blackstone acquired 60.5% of the shares of Mumbai listed mpasis from HP (34.42, 0.65, 1.92%) at 430 rupees per share, which will increase its shareholding to 86.5%.

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