Blackstone scraps $3bn takeover of property giant Soho China - NewsBreak
By Lawce in Business
Updated 3 years ago
A US private equity firm has abandoned a planned $3 billion purchase of Chinese property developer Soho China, with antitrust authorities yet to approve the deal. Blackstone's offer in June, at HK$5 per share, was over 30 percent above Soho China's closing price at the time -- and valued the property group at HK$26 billion ($3.3 billion).
