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Tag: Blackstone

Blackstone pips Baring, Hero Fincorp to buy Aadhar Housing Finance for Rs 2,700 crore

Blackstone pips Baring, Hero Fincorp to buy Aadhar Housing Finance for Rs 2,700 crore

Finance
Private equity firm Blackstone today bought Aadhar Housing Finance, affordable housing arm of Wadhawan Global for about Rs 2,700 crore, outbidding private-equity fund Baring Private Equity and Hero Fincorp. “Blackstone emerged as the winner for the affordable housing finance arm of Wadhawan’s Dewan Housing bidding the business at Rs 2,700 crore, which is three times the book,” said a source close to the development. The company was looking at this deal to free up capital and use the fund to ease liquidity pressure on Dewan Housing Finance. DHFL shares plunged 17.96% on Friday. The shares of DHFL has been under pressure after a news portal alleged that the company had diverted loans worth Rs 31,000 crore. The stock came under further pressure after reports about ministry...
Blackstone takes reins at £600m events group

Blackstone takes reins at £600m events group

Business
The exhibitions group which stages the Olympia Horse Show and World Counter-Terror Congress will be sold next week to one of the world's biggest buyout firms for nearly £600m.Sky News has learnt that Blackstone will announce on Monday that it has acquired Clarion Events from rival Providence Equity Partners.The value of the deal is not expected to be disclosed but sources said it would be just under £600m.Clarion, which is chaired by Simon Kimble, a former RAF officer, owns the rights to hundreds of exhibitions ranging from the House & Garden Show to the Conde Nast Traveller Luxury Fair.The takeover will make Blackstone one of the biggest event-owners in the UK, and will come less than three years since Clarion last changed hands.Exhibitions like those staged by Clarion have demonstrat...
Blackstone to buy The Office Group for £500m

Blackstone to buy The Office Group for £500m

Business
The world's biggest property investor is buying a British flexible office provider in a deal that will be interpreted as a vote of confidence in the UK economy as Brexit talks get underway.Sky News has learnt that Blackstone, the private equity giant whose activities include managing more than €140bn of real estate assets, will announce on Monday the purchase of a controlling stake in The Office Group.The transaction will value the privately owned landlord of corporate clients such as Facebook and Santander UK at £500m, according to insiders.The timing of the deal, which comes at a time of conflicting signals about the outlook for UK commercial property, will be seen as a sign that global investors remain confident in its prospects.The beginning of formal talks between the UK and the Europ...