Blackstone Capital Partners Asia II L.P., managed by Blackstone Inc. (NYSE:BX) completed the acquisition of 51.67% stake in R Systems International Limited(BSE:532735) from the group of shareholders.
May 09, 2023
Share
BCP Asia II Topco II Pte. Ltd. entered into a share purchase agreement to acquire 51.67% stake in R Systems International Limited(BSE:532735) from the group of shareholders for INR 1.5 billion on November 16, 2022. The offer price per share is INR 245. In a related transaction, Bcp Asia II Topco II Pte. Ltd., made an offer to acquire remaining 48.33% stake in R Systems International Limited (BSE:532735) for INR 14 billion. The offer price per share is INR 246. As per the SPA, the acquirer will acquire 6,11,29,969 shares of R systems. Upon completion of the tender offer and SPA R systems will be delisted. As of February 13, 2023, the transaction has been approved by Competition Commission of India.
Ian Ho,Lori Lesser,Greg Grogan,and Meredith Jones from Simpson Thacher & Bartlett LLP, Shishir Vayttaden, Gautam Gandotra, Abhishek Sharma, Abhilash Pillai, Ashish Jain, Arun Prabhu, Anirban Mohapatra, Richa Mohanty Rao, Avaantika Kakkar, Kaustav Kundu, Bharat Vasani, from Cyril Amarchand Mangaldas acted as legal advisors, KPMG acted as an accountant to Blackstone. BDA Partners acted as the exclusive financial advisor to the sellers. Anil Kasturi, Niladri Maulik, Siddharth Khanna of AZB & Partners acted as a legal advisor to R Systems International Limited and seller. PWC acted as an accountant to R Systems International.
BCP Asia II Topco II Pte. Ltd. completed the acquisition of 51.67% stake in R Systems International Limited(BSE:532735) from the group of shareholders on May 10, 2023.
R Systems International Limited is a provider of technology, artificial intelligence, analytics and knowledge services. Its technology offerings include product engineering, cloud enablement, QA testing, Internet of Things (IoT), and digital platforms and solutions. Its segments include Information technology services and Business process outsourcing services. Its artificial intelligence (AI)/ Analytics services include advanced analytics, data monetization and modernization, machine learning/ artificial intelligence, business analytics, intelligent automation and modern data management. design services include UX engineering, visual design, mobile user experience and experience re-engineering. Its knowledge service offerings cover revenue cycle management, back-office service, technical support, and customer care using multi-lingual capabilities. It offers services and solutions to various business verticals, such as technology, telecom, and healthcare and life science.
Blackstone Capital Partners Asia II L.P., managed by Blackstone Inc. (NYSE: BX) completed the acquisition of 51.67% stake in R Systems International Limited(BSE