Brief: Blackstone Commits Up To $359 Mln To Acquire Majority Stake In India-based R Systems

R Systems International

17/11/2022 02:57

Nov 16 (Reuters) - Blackstone Inc  BX.N :
    * BLACKSTONE COMMITS UP TO $359 MILLION (INR 2,904 CRORE) TO
ACQUIRE A MAJORITY STAKE IN R SYSTEMS- STATEMENT
    * BLACKSTONE-  R SYSTEMS FOUNDER SATINDER SINGH REKHI AND
OTHER
PROMOTERS CURRENTLY HOLD 52% STAKE IN R SYSTEMS
    * BLACKSTONE-  BLACKSTONE WILL ACQUIRE FOUNDER AND
PROMOTOERS
STAKE IN R SYSTEMS FOR INR 245 PER SHARE
    * BLACKSTONE- WILL ALSO LAUNCH A CONDITIONAL DELISTING OFFER
FOR R
SYSTEMS, AT A PRICE OF INR 246 PER SHARE
    * BLACKSTONE- TRANSACTION IS EXPECTED TO BE COMPLETED IN THE
COMING MONTHS, SUBJECT TO CUSTOMARY CLOSING CONDITIONS AND
REGULATORY APPROVALS
    * BLACKSTONE- R SYSTEM'S FOUNDER REKHI WILL CONTINUE IN HIS
ROLE
AS A NON-EXECUTIVE ADVISOR

Source text: https://bit.ly/3UBwhO1
Further company coverage:  BX.N 
 ((Reuters.Briefs@thomsonreuters.com;))