Blackstone-AlliedBarton deal close to $1billion: source

NEW YORK Fri Jul 25, 2008 11:54am EDT

NEW YORK (Reuters) - Private equity firm Blackstone Group (BX.N) said on Friday it had struck a deal to buy security personnel firm AlliedBarton Security Services.

Terms were not disclosed, but a source familiar with the situation said the deal was valued at close to $1 billion.

Credit Suisse (CSGN.VX) and Lehman Brothers LEH.N advised AlliedBarton, while Bank of America (BAC.N), Blackstone Advisory Services, HSBC (HSBA.L) and Anne Yang of Old Well LLC advised Blackstone.

The acquisition is expected to close in August, AlliedBarton and Blackstone said in a statement.

(Reporting by Megan Davies; editing by John Wallace)

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