Blackstone in talks to buy Baring’s Interplex for at least $1 billion

By Kane Wu

HONG KONG (Reuters) – Blackstone (NYSE:) is in talks to acquire Interplex Holdings, a Singapore-based technological services provider owned by Baring Private Equity Asia (BPEA), in a deal worth at least $1 billion, according to two people with knowledge of the matter.

Final negotiations could still take weeks and there is no certainty in a deal yet, said the sources, who declined to be named as the information is confidential.

Blackstone has no exclusivity in the deal, they added.

The U.S-based private equity firm and Hong Kong-based BPEA declined to comment. Interplex did not immediately respond to a request for comment.

Bloomberg first reported the talks on Tuesday.

BPEA offered S$450 million ($320 million) to buy out https://www.reuters.com/article/interplex-hldg-ma-idUSL3N14C39A20151223 Interplex Holdings in December 2015 from CVC Capital Partners and the private equity arm of Standard Chartered (OTC:).

Interplex delisted from the Singapore bourse in April 2016 when the transaction was completed.

The company designs, engineers and delivers advanced applications development and high-precision engineering solutions for customers in over 25 locations across over 13 countries, its website said.