The Blackstone Group Inc. [NYSE: BX] disclosed that the firm is currently planning to purchase Interplex Holdings in a deal valued at at least $1 billion. The deal has not been confirmed between the firms and there are chanced that both firms may take some time to reach the final agreement. It has been confirmed that Blackstone has no superiority in the deal.
Interplex Holdings has gained recognition as a Singapore-based technological services provider owned by Baring Private Equity Asia (BPEA). Earlier, in 2015, BPEA suggested S$450 million ($320 million) purchase from CVC Capital Partners and the private equity arm of Standard Chartered.
The Blackstone Group Inc. [NYSE: BX] shares were trading up 0.54% at the time of writing on Tuesday. The Blackstone Group Inc. [NYSE: BX] share price went from a low point around $49.26 to briefly over $117.65 in the past 52 weeks, though shares have since pulled back to $116.39. BX’s market cap has remained high, reaching $135.63 billion at the time of writing.
Furthermore, Interplex was delisted from the Singapore bourse in April 2016 when the deal with BPEA was executed. The firm designs, engineers and delivers sophisticated applications development and high-precision engineering solutions for clients in more than 25 locations across over 13 countries.