'Blackstone To Buy Sony Payment Majority Stake For $280M; Sony Will Keep A 20% Minority Stake In The Payment Service; The Transaction Is Expected To Be Announced As Soon As Friday' - Bloomberg News
Portfolio Pulse from Benzinga Newsdesk
Blackstone Inc. is set to acquire an 80% majority stake in Sony Payment Services Inc., a subsidiary of Sony Group Corp., for approximately $280 million. Sony will retain a 20% minority stake in the payment service. The deal is expected to be announced shortly, as per a source familiar with the matter. Both Blackstone and Sony have not officially commented on the transaction.
December 21, 2023 | 6:14 pm
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NEUTRAL IMPACT
Sony Group Corp. is selling an 80% stake in its subsidiary Sony Payment Services to Blackstone Inc. for $280 million but will retain a 20% minority stake.
While Sony is divesting the majority of its payment services arm, retaining a 20% stake allows it to benefit from any future growth without the operational responsibilities. The impact on Sony's stock price may be neutral in the short term as the sale could be seen as a strategic move to focus on core businesses.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Blackstone Inc. is purchasing an 80% stake in Sony Payment Services for $280 million, expanding its portfolio in the payment services sector.
The acquisition of a majority stake in a payment service provider could be seen as a strategic expansion for Blackstone, potentially adding a new revenue stream and diversifying its portfolio. This news is likely to be viewed positively by investors, as it indicates growth and expansion in a relevant sector.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80