Blackstone in Talks to Take SOHO China Private in $4 Billion Deal, Reuters Reports

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--Blackstone Group Inc. is in exclusive talks to take Hong Kong-listed developer SOHO China Ltd. private in a $4 billion deal, Reuters reports, citing unnamed sources.

--The U.S. private equity firm offered 6 Hong Kong dollars (US$0.77) per share, which is nearly a 100% premium to the HK$3.03 average price of SOHO China's shares in January, Reuters says.

--Blackstone would also take over the debt of SOHO China, which stood at 32.68 billion yuan (US$4.70 billion) as of the end of June 2019, and details of the privatization plan are expected to be finalized in the coming weeks, according to the report.

Full story: https://reut.rs/2TD9zYK

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March 09, 2020 23:44 ET (03:44 GMT)

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