Photo: BloombergMumbai: Private equity firm Blackstone Group LP on Monday sold an 8% stake in its portfolio company Mphasis Ltd for about Rs1,440 crore. Blackstone sold a total of 15.2 million shares through its unit Marble II Pte Ltd, bringing down its shareholding in the Bengaluru-based information technology services provider to 52% from 60%. In September 2016, the buyout major had bought a controlling stake in Mphasis for Rs5,466 crore ($816 million) from Hewlett Packard Enterprise (HPE). Hewlett Packard Enterprise inherited the controlling stake in Mphasis when it bought IT consulting company Electronic Data Systems in 2008. In May last year, Blackstone sold a 7.5% stake in fragrance maker S.H.

Source: Mint May 14, 2018 16:09 UTC