(Adds details in paragraphs 2-4)
Oct 28 (Reuters) - Private equity firm BC Partners said on Monday it has agreed to sell its controlling stake in GardaWorld, in a deal that values the Canadian security services company at about C$13.5 billion ($9.72 billion).
GardaWorld founder and CEO Stephan Cretier along with some management executives will buy a 70% stake, the companies said in a statement.
Private credit company HPS Investment Partners will hold the remaining equity interest. BC Partners will also continue to hold a minority interest in GardaWorld.
The transaction is expected to close by Feb. 28, according to GardaWorld.
($1 = 1.3894 Canadian dollars)
(Reporting by Jaspreet Singh in Bengaluru; Editing by Alan Barona)
((Jaspreet.Singh@thomsonreuters.com; ))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.