21.02.2014 - Blackstone, GIC invest in Kronos
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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