Blackstone to take minority stake in NCR Corp: source

Wed Nov 11, 2015 5:03pm EST
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(Reuters) - Blackstone Group LP (BX.N: Quote) has agreed to invest more than $800 million in NCR Corp NCR.N that will give it the equivalent of more than a 15 percent stake in the automated teller machines maker, a source familiar with the matter said on Wednesday.

Duluth, Georgia-based NCR plans to announce details of the deal with Blackstone, the world's largest private equity firm, by Thursday, the source said, asking not to be identified ahead of any official announcement.

Blackstone declined to comment, while NCR did not respond to a request for comment.

Blackstone held talks to acquire NCR outright earlier this year but could not agree on terms, people familiar with the matter have previously told Reuters. The Wall Street Journal first reported on the minority stake investment on Wednesday.

(Reporting by Liana B. Baker in New York; Editing by Lisa Shumaker)

Stephen A. Schwarzman, Chairman and Chief Executive Officer of The Blackstone Group in New York February 27, 2014.   REUTERS/Brendan McDermid