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Velti Gets Green Light For Sale To Blackstone Unit

Law360, Wilmington (December 20, 2013, 4:42 PM EST) -- A Delaware bankruptcy judge on Friday blessed Velti PLC's sale of its U.S. mobile marketing business units, as well as some overseas affiliates, to a unit of Blackstone Group LP in a cash and debt deal that the buyers have said saved the company from a free-fall liquidation.

Under the deal, affiliates of Blackstone's credit arm GSO Capital Partners LP will get the U.S. mobile marketing operations of Velti and affiliate Air2Web Inc., as well as U.K. units Velti DR Ltd. and Mobile Interactive Group Ltd.,...
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