Blackstone to buy out office developer SOHO China in $3 billion deal

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Blackstone Group will take control of SOHO China and maintain its stock market listing.

By Clare Jim

The U.S. private equity firm will offer HK$5 per share, 31.6% higher than the last closing price of HK$3.8 on Friday, in what would be its largest real estate deal in China. Blackstone, which currently owns around 6 million square metres of properties in China, is seeking to expand there as it is confident about the country's long-term economic prospects and the Beijing and Shanghai office market, the filing said.

 

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