BX - Blackstone

Discussion in 'Stock Message Boards NYSE, NASDAQ, AMEX' started by T0rm3nted, Apr 5, 2016.

  1. T0rm3nted

    T0rm3nted Moderator
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    The Blackstone Group L.P. is an American multinational private equity, investment banking, alternative asset management and financial services corporation based in New York City. As the largest alternative investment firm in the world, Blackstone specializes in private equity,credit and hedge fund investment strategies, as well as financial advisory services, such as mergers and acquisitions (M&A), restructuringsand reorganizations, and private placements.

    Blackstone's private equity business has been one of the largest investors in leveraged buyout transactions over the last decade, while itsreal estate business has actively acquired commercial real estate. Since its inception, Blackstone has completed investments in such notable companies as Hilton Worldwide, Merlin Entertainments Group, Equity Office Properties, Republic Services, AlliedBarton, United Biscuits,Freescale Semiconductor, Vivint, and Travelport.

    Blackstone was founded in 1985 as a mergers and acquisitions boutique by Peter G. Peterson and Stephen A. Schwarzman, who had previously worked together at Lehman Brothers, Kuhn, Loeb Inc. Over the course of two decades, Blackstone has evolved into one of the world's largest private equity investment firms. In 2007, Blackstone completed a $4 billion initial public offering to become one of the first major private equity firms to list shares in its management company on a public exchange. Blackstone is headquartered at 345 Park Avenue in Manhattan, New York City, with eight additional offices in the United States, as well as offices in London, Paris, Düsseldorf,Sydney, Tokyo, Hong Kong, Singapore, Beijing, Shanghai, Madrid, Mumbai, and Dubai.
     
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  2. T0rm3nted

    T0rm3nted Moderator
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    Blackstone takes control of India's Mphasis in up to $1.1 billion deal

    Blackstone Group (BX.N) is buying a majority stake in Indian IT outsourcing services provider Mphasis Ltd (MBFL.NS) from Hewlett Packard Enterprise Co (HPE.N) in an up to $1.1 billion deal, in the U.S. asset manager's single-biggest investment in India.

    The all-cash deal reinforces Blackstone's bullish outlook on the outsourcing business, where western clients send IT jobs to countries such as India to cut costs. In December, Blackstone announced the purchase of a minority stake in India's IBS Software for $170 million.

    Blackstone is betting that India's IT industry will continue to grow in double-digits as companies move to high-margin digital services to offset a cut-back in routine IT spending by clients, a senior executive at the firm said.

    "The reason we have made a strong commitment to the Indian IT sector is because this is a sector which has delivered very strong returns to Blackstone and other PE investors in India," said Amit Dixit, Blackstone's senior managing director in India.

    "This sector is also poised for good growth ... and especially digital services, an area in which Mphasis is strong in," he said on a conference call after the deal was announced.

    India's IT and software services export revenue is likely to grow by 10-12 percent in the fiscal year beginning on April 1 to as much as $121 billion, according to trade body National Association of Software and Services Companies (Nasscom).

    In what is one of the biggest M&A transactions in the country's outsourcing sector, Blackstone will pay 430 rupees ($6.49) per share for at least 84 percent of HP Enterprise Co's 60.5 percent stake in Mphasis.

    It also made an open offer to buy a 26 percent stake in Mphasis from public shareholders for 457.54 rupees a share to comply with Indian laws.

    Depending on the response to the open offer, HPE could get as much as $825 million for its complete stake, while the final cost to Blackstone of the transaction could be as much as 70.71 billion rupees ($1.1 billion). The deal is expected to close in the coming months, Blackstone said.

    Shares of Mphasis, which have gained more than 11 percent from the beginning of March till end of last week in anticipation of a deal, fell 2.9 percent on Monday to close slightly below the open offer price at 454.90 rupees on the Mumbai markets.

    "This is a consolidating industry and Mphasis was the last big asset, you could see some more PE deals for smaller software companies in the sector going forward," said Ravi Menon, an IT sector analyst at Elara Capital.

    Sources had told Reuters Blackstone was the frontrunner in an auction run by HPE for its Mphasis stake. HPE had been looking to exit from the Indian venture to shore up its capital, the sources had said.

    Analysts have said that Mphasis' move away from HPE, which accounts for about a quarter of the Indian company's revenue, could hurt its sales.

    But Blackstone has ensured that HPE maintains its commercial partnership with Mphasis. The Indian company has signed a five-year revenue guarantee of at least $990 million through sales to HPE, the companies said.

    The U.S. asset manager is not alone in initiating outsourcing sector deals in India.

    In February, Singapore sovereign wealth fund GIC Pte [GIC.UL] and private equity investors Advent International and Bain Capital jointly bought a minority stake in outsourcing firm QuEST Global Services for $350 million.
     
  3. T0rm3nted

    T0rm3nted Moderator
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    Reported before open today (7/21/16)
    Earnings: EPS $0.44 Revenue $1.17B
    Estimates: EPS $0.39 Revenue $1.11B

    Up 1.63% pre-market so far
     
  4. T0rm3nted

    T0rm3nted Moderator
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    Huh?
     
  5. Stockaholic

    Stockaholic Content Manager

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    [​IMG]

    looks like another one of those copy pastes from a ST user to me o_O
     
  6. A55

    A55 Well-Known Member

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  7. emmett kelly

    emmett kelly Well-Known Member

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    Blackstone shares are trading higher after the company reported Q3 EPS and sales results were higher year over year.

    Oct 21, 2021 7:55a ET
     

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