Blackstone (BX) and Advanced Cooling Technologies announced that funds managed by Blackstone Energy Transition Partners have entered into a definitive agreement to acquire a majority stake in ACT. ACT’s executive team will remain in place and continue as significant shareholders in the business. The transaction is expected to close in second quarter, subject to customary conditions.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BX:
- Top Hedge Fund Manager Sounds the Alarm on Market Risk. Here Are 4 Ways to Play a Possible Selloff
- Midday Fly By: Rising oil prices, falling employment sink stocks
- “Investor Rush to Exit” Hits BlackRock (BLK) as It Limits Withdrawals; Stock Drops 6%
- Whitestone receiving takeover interest from private equity, Reuters says
- Blackstone reinstated with an Equal Weight at Barclays