(Bloomberg) -- The Chinese government agreed to buy
a $3 billion stake in New York-based buyout firm Blackstone
Group LP, the first step in a plan aimed at diversifying its
overseas investments.
The soon-to-be-formed State Investment Co. will buy an
undisclosed number of nonvoting Blackstone shares at
95.5 percent of the price set in its planned initial public
offering. The stake will be reduced if necessary to keep it
below 10 percent after the IPO, the government and Blackstone
said today in a statement.
Read more at Bloomberg Bonds News
a $3 billion stake in New York-based buyout firm Blackstone
Group LP, the first step in a plan aimed at diversifying its
overseas investments.
The soon-to-be-formed State Investment Co. will buy an
undisclosed number of nonvoting Blackstone shares at
95.5 percent of the price set in its planned initial public
offering. The stake will be reduced if necessary to keep it
below 10 percent after the IPO, the government and Blackstone
said today in a statement.
Read more at Bloomberg Bonds News
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