Acquisition will be done through Marble II Pte, part of Blackstone Group
Competition Commission of India (CCI) has cleared private equity major Blackstone’s multi-billion dollar deal to buy over 50% stake in Mphasis from HP Enterprise.
The acquisition will be done through Marble II Pte, part ofBlackstone Group.
In April this year, Blackstone had said it will buy out 50% stake of HP Enterprise in Mphasis for up to Rs 7,071 crore ($ 1.1 billion), marking the largest IT deal for the US-based firm in India.
CCI, which keeps a tab on unfair business practices, has cleared the deal, as per the regulator’s website.
Marble II Pte is a special purpose vehicle and is currently not engaged in any business activity. Blackstone is a global alternative asset manager and provider of financial advisory services.
Mphasis is an IT solutions provider, offering applications, business process outsourcing, and infrastructure services globally through a combination of technology knowhow, domain, and process expertise.
Source: Business-Standard