Summary
- Blackstone is one of the largest global alternative asset managers
- Sony Payment Services Inc (SPSV), established in 2006, is one of Japan’s leading payment service providers and part of Sony Bank Inc (Sony Bank), a subsidiary of Sony Financial Group Inc (SFGI)
- SPSV specializes in credit card payment services, and credit card data processing
Process
- Daiwa and DC Advisory acted as a financial advisor for Blackstone on its acquisition of a majority stake in SPSV
Outcome
- Private Equity funds managed by Blackstone have entered into a definitive agreement to acquire a majority stake in SPSV, from Sony Bank
- Sony Bank will roll over a portion of its equity and will continue to support the growth of SPSV as a minority investor