France’s Wendel buys AlliedBarton from Blackstone for $1.67 billion: Reuters

(Reuters) French buyout firm Wendel (MWDP.PA) said on Tuesday it was buying U.S. firm AlliedBarton Security Services from Blackstone (BX.N) for $1.67 billion.

Wendel said in a statement that it was making an equity investment of about $670 million in the company for 96 percent stake with its management owning the rest.

The deal is expected to close later this year. Wendel said Credit Suisse acted as exclusive financial advisor for the deal.