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Blackstone to invest $820M in ATM manufacturer NCR

Nov 12, 2015 - The Deal Pipeline

Automated teller machine manufacturer NCR Corp. (NCR) said Thursday, Nov. 12, that Blackstone Group LP (BX) would acquire a 17% stake in the company for $820 million, months after rumors swirled that the private equity firm was trying to acquire NCR outright.

Terms of the deal call for the New York firm to purchase perpetual preferred stock that is convertible into NCR common shares at a conversion price of $30 per share, an 18% premium to the stock's 30-day volume-weighted average. ...