blackstone group lp/the (BX) Key Developments
Blackstone Likely To Exit 4 Of Its Portfolio Investments In India
Jul 31 15
The Blackstone Group L.P. (NYSE:BX) is likely to exit four of its portfolio investments through public issues and sale of investments to strategic investors. “Two of Blackstone's portfolio firms have already filed initial public offering (IPO) documents with the capital markets regulator and another two are likely to go public in next 18-24 months,” Amit Dixit, Senior Managing Director at Blackstone, said in a telephone interview. The two companies that have filed for IPOs include S H Kelkar and Company Limited and Nuziveedu Seeds Limited.
Reliance Infratel Stake Sale Reportedly Draws U.S. Investors' Interest
Jul 31 15
Reliance Communications Ltd. (NSEI:RCOM) has revived a plan to sell a 51% stake in Reliance Infratel Limited attracting early interest from U.S. private equity firms as well as domestic and American industry players, two sources with direct knowledge of the matter said. Reliance Communications is looking at a valuation of about $4 billion for Reliance Infratel, the sources said. The private equity firms showing interest included The Blackstone Group L.P. (NYSE:BX), The Carlyle Group LP (NasdaqGS:CG) and Providence Equity Partners LLC, while from the industry side Bharti Infratel Limited (NSEI:INFRATEL) and American Tower Corporation (NYSE:AMT) were other potential suitors, according to the sources. A Reliance Communications spokesman declined to comment. "We keep evaluating options on an ongoing basis and are open to opportunities provided there is a strategic fit," a Bharti spokesman said in a statement to Reuters. Blackstone and Carlyle declined comment. American Tower did not immediately respond to requests for comment. Providence Equity could not be immediately reached for comment.
Top Private Equity Firms Interested in Reliance Infratel
Jul 30 15
Farallon Capital Management, L.L.C., Tilman Financial and The BlackStone Group L.P.(NYSE:BX), American Tower Corporation (NYSE:AMT) and The Carlyle Group LP (NasdaqGS:CG) are among the top initial bidders seeking to acquire a 50% stake in Reliance Infratel Limited from Reliance Communications Ltd. (NSEI:RCOM), people familiar with the matter said. UBS, Standard Chartered PLC (LSE:STAN) and SBI Capital Markets Limited are running the stake sale process, in which due diligence is expected to be carried out in July-August 2015. RCom is seeking a valuation of INR 250-300 billion for its tower arm. This includes debt of about INR 80 billion, to be transferred to the tower company once the stake sale is completed.
The Blackstone Group L.P. Announces Executive Changes
Jul 24 15
The Blackstone Group L.P. appointed Michael Chae to serve as its new CFO, following the resignation of Laurence Tosi who stepped down to take the same role at Airbnb Inc. Michael Chae will assume the CFO role on August 7. Currently, Chae is a senior managing director and head of international private equity at Blackstone. Tosi has served as CFO of Blackstone since 2008.
The Blackstone Group L.P. and Fairstead Capital Reportedly In Talks To Acquire 25 Apartment Buildings in Manhattan
Jul 22 15
The Blackstone Group L.P. (NYSE:BX) and Fairstead Capital is reported to buy 25 Manhattan apartment buildings for about $700 million from Caiola family, a New York developer, Bloomberg reported. Blackstone will have a majority interest in the apartments.