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Blackstone To Unload One Of Its Largest Chinese Assets For $675M


Blackstone Group is unloading one of its largest Chinese assets to China-based shipping and airline giant HNA Group for $675M in cash.

The world’s largest private equity firm struck a deal in August to sell Pactera Technology International, its information-technology outsourcing firm, though it has yet to close. Pactera Technology is valued at $930M including debt, and Blackstone is looking to get a 1.5% return on the sale, people close to the deal told Nasdaq.

Pactera’s operating margins have weakened over the past year, falling below 3% in the first nine months of 2015. [Nasdaq]