(Bloomberg) -- Blackstone Inc. is considering selling its minority stake in British outsourced marketing provider HH Global, according to people familiar with the matter.
The asset management giant is working with Moelis & Co. on the potential transaction, said the people, who asked not to be identified as the information is private. A stake sale could value HH Global at around £2 billion ($2.6 billion) to £2.5 billion, the people said.
Blackstone’s tactical opportunities group acquired a strategic minority stake in HH Global for £100 million in 2020.
Deliberations are preliminary and Blackstone could decide against a stake sale, the people said. Representatives for Blackstone and Moelis declined to comment.
HH Global provides tech-enabled creative production and procurement for marketing campaigns of its clients. It has represented more than 1,000 brands with clients including Bayer AG, Cartier, Coca-Cola Co. and Samsung Electronics Co., with more than 4,000 employees globally, its website shows.
Sutton, England-based HH Global has been acquisitive in recent years including a take-private of US-listed Innerworkings Inc. in 2020 and acquisitions of Adare International and Displayplan. On Friday, HH Global completed the purchase of marketing technology firm Northell Partners Ltd.
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