GIC among investors in $8.5b buyout of US software firm
Published on May 8, 2013 7:08 AM
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.
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!