Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  Blackstone Group LP    BX

BLACKSTONE GROUP LP (BX)
My previous session
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets

Blackstone LP : To buy Gramercy Property in $7.6 billion deal

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/07/2018 | 06:35pm CEST
FILE PHOTO: The ticker and trading information for Blackstone Group is displayed at the post where it is traded on the floor of the New York Stock Exchange

(Reuters) - U.S. private equity firm Blackstone Group LP will buy commercial real estate manager Gramercy Property Trust in a $7.6 billion (5.6 billion pounds) all-cash deal, the companies said on Monday.

Blackstone's $27.50-per-share offer represents a premium of 15.4 percent to Gramercy's close on Friday at $23.82.

The deal will add to Blackstone's real estate business, which has emerged as a bigger contributor to earnings in recent years than its private equity division.

Blackstone earlier this year elevated Jonathan Gray, who turned the buyout firm into the world's biggest real estate investor, to president and chief operating officer, setting him up as successor to Chief Executive Stephen Schwarzman.

The acquisition has an equity value of $4.42 billion, according to Reuters' calculations. Gramercy's total liabilities, as of March 31, were $3.14 billion.

Gramercy's shareholders will receive a second-quarter dividend of 37.5 cents per share.

The deal is expected to close in the second half of the year, Gramercy said.

Morgan Stanley was Gramercy's financial adviser, while Citigroup and BofA Merrill Lynch advised Blackstone.

(Reporting by Aparajita Saxena and Arunima Banerjee in Bengaluru; Editing by Bernard Orr and Sai Sachin Ravikumar)

Stocks treated in this article : Blackstone Group LP, Gramercy Property Trust
Stocks mentioned in the article
ChangeLast1st jan.
BLACKSTONE GROUP LP 1.66% 36.8 Delayed Quote.13.05%
GRAMERCY PROPERTY TRUST 0.00% 27.36 Delayed Quote.2.63%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on BLACKSTONE GROUP LP
08/20BLACKSTONE LP : TPG Capital in talks to invest in India's Jet Airways - sources
RE
08/16Blackstone investing $400M in Chinese company HEC
AQ
08/15YICHANG HEC CHANGJIANG PHARMACTCL : Blackstone invests $400 million in HEC Pharm..
RE
08/15BLACKSTONE LP : may buy stake in India's Jet Airways loyalty arm - Bloomberg
RE
08/15BLACKSTONE LP : Statement of Changes in Beneficial Ownership
PU
08/14BLACKSTONE LP : Form 13F Holdings Report
PU
08/14ExxonMobil Joins Kinder Morgan, EagleClaw and Apache on Permian Highway Pipel..
AQ
08/13Pebblebrook Hotel Trust Files Investor Presentation; Urges Shareholders to Vo..
AQ
08/13BLACKSTONE LP : Dutchess county state Senate candidate is sister-in-law of Cuomo..
AQ
08/11HILTON WORLDWIDE : new luxury brand is a ghost of Blackstone's past
AQ
More news
News from SeekingAlpha
08/17LEVERAGE LOAN MARKET SET FOR POST-LA : Bloomberg 
08/15Blackstone to invest $400M in HEC Pharm 
08/14Blackstone perks up after landing on Morgan Stanley `top pick' list 
08/143 Stocks For A Retirement Portfolio 
08/13PRIVATE EQUITY FIRMS NOW LOOKING TO : Wall Street Journal 
Financials ($)
Sales 2018 7 198 M
EBIT 2018 4 029 M
Net income 2018 -
Debt 2018 -
Yield 2018 6,23%
P/E ratio 2018 -
P/E ratio 2019 10,95
Capi. / Sales 2018 6,05x
Capi. / Sales 2019 5,79x
Capitalization 43 563 M
Chart BLACKSTONE GROUP LP
Duration : Period :
Blackstone Group LP Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BLACKSTONE GROUP LP
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 41,3 $
Spread / Average Target 14%
EPS Revisions
Managers
NameTitle
Stephen Allen Schwarzman Chairman & Chief Executive Officer
Jonathan D. Gray President, Chief Operating Officer & Director
Kathleen Skero Finance Director & Principal Accounting Officer
Michael S. Chae Chief Financial Officer
Jay A. Leek Chief Information Security Officer
Sector and Competitors
1st jan.Capitalization (M$)
BLACKSTONE GROUP LP13.05%43 641
T. ROWE PRICE GROUP10.18%28 115
LEGAL & GENERAL-7.10%19 300
AMUNDI-15.98%13 694
HARGREAVES LANSDOWN20.53%13 139
STANDARD LIFE ABERDEEN-27.35%12 047