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Blackstone in negotiations to purchase Baring’s Interplex for at least $1 bln

Blackstone (BX.N) is in talks to acquire Interplex Holdings, a Singapore-based technological services provider owned by Baring Private Equity Asia (BPEA), in a deal worth at least $1 billion, according to two people with knowledge of the matter.

Final negotiations could still take weeks and there is no certainty in a deal yet, said the sources, who declined to be named as the information is confidential.

Blackstone has no exclusivity in the deal, they added.

The U.S-based private equity firm and Hong Kong-based BPEA declined to comment. Interplex did not immediately respond to a request for comment.

Bloomberg first reported the talks on Tuesday.

BPEA offered S$450 million ($320 million) to buy out Interplex Holdings in December 2015 from CVC Capital Partners and the private equity arm of Standard Chartered (STAN.L).

Interplex delisted from the Singapore bourse in April 2016 when the transaction was completed.

The company designs, engineers and delivers advanced applications development and high-precision engineering solutions for customers in over 25 locations across over 13 countries, its website said.