The private equity giant has hired investment bank JP Morgan to sell at least 40% of its total 44% stake in the travel and hospitality software provider for about $1 billion, the people cited above said on condition of anonymity, adding the process is still in the early stages.
Spokespeople for JP Morgan and Blackstone declined to comment. Representatives for IBS Software did not respond to a request for comment till press time.
Blackstone acquired a minority stake in IBS Software for approximately $170 million in 2015 from General Atlantic and other shareholders.
The founders are not interested in selling their stake, the people cited above added..
Bu hikaye Mint Mumbai dergisinin February 09, 2023 sayısından alınmıştır.
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Bu hikaye Mint Mumbai dergisinin February 09, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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