Photo: Bloomberg
').insertAfter(".article-content__img");$(".article-content__img div").find('div').remove();
Blackstone Sells 20.50% Stake In Sona BLW Precision For Rs 4,917 Crore
Private equity firm Blackstone on Monday sold its 20.50 per cent stake in auto component maker Sona BLW Precision Forgings for Rs 4,917 crore through an open market transaction
Topics
Blackstone | Companies
Private equity firm Blackstone on Monday sold its 20.50 per cent stake in auto component maker Sona BLW Precision Forgings for Rs 4,917 crore through an open market transaction.
Blackstone, through its affiliate Singapore VII Topco III Pte Ltd offloaded the shares in Sona BLW. Singapore VII Topco III Pte is a promoter entity in Sona BLW.
Monetary Authority of Singapore, Government of Singapore, BNP Paribas Arbitrage, Fidelity Asian Values Plc, Societe Generale, among others were the buyers of the shares.
According to bulk deal data available with the BSE, Singapore VII Topco III Pte offloaded 11,99,25,641 shares, amounting to 20.50 per cent stake in the company.
The shares were sold at an average price of Rs 410.04 apiece, taking the transaction value to Rs 4,917.43 crore.
As of December 2022, Singapore VII Topco III Pte owned 20.50 per cent stake in the company.
On Monday, shares of Sona BLW Precision Forgings closed 6.93 per cent lower at Rs 405.80 apiece on the BSE.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Subscribe to Business Standard Premium
Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!
First Published: Mon, March 13 2023. 23:12 IST
RECENT NEWS
Stablecoin The Future Of Currency?
The payments system is undergoing a quiet but consequential shift. What was once the exclusive preserve of central banks... Read more
BoE Loosens Capital Rules
The Bank of England has taken a significant step towards easing post-crisis regulation by lowering its estimate of the c... Read more
Monzo Looks For US Banking License
Monzo is preparing a renewed push to secure a US banking licence, four years after abandoning its first attempt when tal... Read more
Crypto Firms Push Into US Banking
America’s cryptocurrency companies are scrambling to secure a foothold in the country’s traditional banking system, ... Read more
Parallel Banking: Stablecoins Are Now Global
Parallel Banking: How Stablecoins Are Building a New Global Payments SystemStablecoins—digital currencies pegged to tr... Read more
JPMorgan Deploys AI Chatbot To Revolutionize Research And Productivity
JPMorgan has deployed an AI-based research analyst chatbot to enhance productivity among its workforce, with approximate... Read more