Blackstone to buy majority of India's Mphasis in up to $1.1 billion deal

April 4, 2016 4:16 AM

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MUMBAI Blackstone Group LP (BX.N) has agreed to buy a majority stake in Indian IT outsourcing services provider Mphasis Ltd (MBFL.NS) from Hewlett Packard Enterprise Co (HPE.N), in a deal that will cost up to $1.1 billion.

Blackstone will pay 430 rupees per share for 84 percent of HP Enterprise Co's 60.5 percent stake in Mphasis, HPE said in a statement.

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