GIC among investors in $8.5b buyout of US software firm
THE Government of Singapore Investment Corp (GIC) has taken a stake in the third-largest private equity deal of the year.
The investment firm is among a group of investors that will pay US$6.9 billion (S$8.5 billion) in cash to buy American company BMC Software and take it private, according to a statement released by BMC yesterday.
The price per share works out to US$46.25, less than 2 per cent over BMC's closing price of US$45.42 on the Nasdaq exchange last Friday.
A GIC spokesman yesterday confirmed the participation of its private equity arm, GIC Special Investments, in the BMC deal but would not disclose GIC's stake.