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    Home»Mergers & Acquisitions»Blackstone commits up to $359m to acquire majority stake in R Systems
    Mergers & Acquisitions

    Blackstone commits up to $359m to acquire majority stake in R Systems

    November 17, 2022Updated:November 17, 20221 Min Read
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    DELIVERING ALPHA -- Blackstone Chairman, Chief Executive Officer and Co-Founder and ?What it Takes: Lessons in the Pursuit of Excellence? Author Stephen A. Schwarzman speaks at the CNBC Institutional Investor Delivering Alpha conference September 19th in New York City -- (Photo by: Heidi Gutman/CNBC/NBCU Photo Bank via Getty Images)
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    Private equity funds managed by Blackstone have signed definitive agreements with Satinder Singh Rekhi and other current promoters to purchase a majority stake in R Systems International Limited (R Systems) for up to $359 million.

    R System’s revenue for the last twelve months, as of September 30, 2022, was ~$189 million, representing year-on-year growth of 36%.

    Satinder Singh Rekhi and the other promoters currently hold ~52% stake in R Systems, which Blackstone will acquire for INR 245 per share. Blackstone will also launch a conditional delisting offer, at a price of INR 246 per share. The transaction is expected to be completed in the coming months, subject to customary closing conditions and regulatory approvals. Rekhi will continue to guide the company in his role as a non-executive advisor.

    Read more: Private Equity Wire

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    deals and transactions Mergers and acquisitions PE Insider Private Equity
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