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Sovereign Wealth Funds Briefing - Categorized | Investment

Blackstone, GIC invest in Kronos

Posted on 21 February 2014

A team of Blackstone Group and GIC Private Ltd. reached a deal to take a minority stake in Kronos Inc. that values the human-resources software company at around $4.5 billion, including debt, said people close to the negotiations.
Blackstone, the world’s largest private-equity firm, and GIC, a sovereign-wealth fund owned by the Singapore government, are together investing about $750 million in Kronos, the people said. That will give the pair a roughly 44% stake in Kronos, one of the people said. The deal values Kronos equity at about $1.7 billion………………………………………..Full Article: Source


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