Skip to main content

Market Overview

Blackstone Explores Minority Stake Acquisition In India's Sify: Bloomberg

Blackstone Explores Minority Stake Acquisition In India's Sify: Bloomberg

Investment firm Blackstone Group Inc (NYSE: BX) is in talks for acquiring a minority stake in India’s ICT service & solution provider Sify Technologies Ltd (NASDAQ: SIFY), Bloomberg reports.

  • Sify has reportedly sought a valuation between $1 billion to $1.2 billion. However, other financial terms are not disclosed.
  • Sify’s American depositary receipts slipped 12.3% in the U.S. on Thursday amid a selloff in tech stocks resulting in a valuation of $484 million.
  • Sify, led by CEO Kamal Nath, owns and runs data centers and India’s largest multiprotocol label switching (MPLS) network as per its website.
  • It announced expanding its data-center footprint in cities including Mumbai, Noida, and Chennai in a January earnings call.
  • Blackstone inked multiple deals in India lately, including the acquisition of the glass unit of conglomerate Piramal Enterprises Ltd and real estate assets from developer Prestige Estates Projects Ltd. Blackstone-owned Aadhar Housing Finance Ltd has filed a draft prospectus with India’s market regulator in January for a potential IPO valued at $1 billion.
  • Also, Blackstone is set to acquire data-driven and technology-enabled provider Interior Logic Group Holdings, LLC from Littlejohn & Co. LLC, Platinum Equity, and other equity holders for $1.6 billion.
  • Blackstone’s cash and cash equivalents amounted to $2.06 billion as of December 31, 2020.
  • Price action: BX stock closed lower by 3.61% at $67.08 on Thursday. SIFY closed lower by 12.34% at $2.70.

Related Articles (SIFY + BX)

View Comments and Join the Discussion!

Posted-In: Bloomberg IndiaM&A News Penny Stocks Small Cap Tech Media Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at