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MphasiS shares jump 6% after Blackstone commits up to $2.8 billion to acquire controlling stake in firm

The share touched a 52-week high of Rs 1,837.45 and a 52-week low of Rs 661 on 12 April, 2021 and 24 April, 2020, respectively.

April 26, 2021 / 12:58 PM IST
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MphasiS share price rose over 6 percent intraday on April 26 after private equity firm Blackstone commits up to $2.8 billion to acquire a controlling stake in the company.

Blackstone said funds managed by it have entered into definitive agreements to acquire a majority stake in Mphasis, and the transaction will trigger an open offer for the acquisition of up to 26 percent stake.

A wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA), UC Investments (Office of the Chief Investment Officer of The Regents, University of California) and others will co-invest along with Blackstone, a statement said.

The sale is expected to complete in the coming months, subject to customary closing conditions and regulatory approvals.