Blackstone Credit Division To Snap Up Velti Assets

Law360, New York (December 17, 2013, 2:19 PM EST) -- Velti PLC said Tuesday it planned to sell its mobile marketing business in the U.S., the Netherlands and the U.K. to the credit division of Blackstone Group LP, the stalking horse bidder, in a cash and debt deal, after it failed to receive any other qualifying offers.

Under the terms of the proposed transaction, affiliates of Blackstone’s GSO Capital Partners LP will buy business lines operated by Velti and subsidiary Air2Web Inc. in the U.S.; Air2Web India, Velti DR Ltd. and Mobile Interactive Group Ltd. in...
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