Blackstone to Buy 80% of Sony Payment Unit for $280 Million (2)

Blackstone Inc. will take a majority stake in a payment service provider under Sony Group Corp. for about $280 million, a person familiar with the matter said.

The world’s largest alternative asset manager will buy 80% of Sony Payment Services Inc., said the person, who asked not to be identified because the information is confidential. Blackstone and Sony Group announced the transaction Friday, confirming Bloomberg’s earlier report, but didn’t give financial details of the deal.

A household name for its electronics and entertainment offerings, Sony Group also operates a financial services business which includes Sony Bank and its subsidiary ...