Date
19 October 2017

Blackstone buys 40% stake in Shenzhen’s SCP, paper says

The Blackstone Group L.P.’s property unit has bought a 40 percent stake in SZITIC Commercial Property (GROUP) Co. Ltd. (SCP) for more than US$4 million yuan, Financial Times reported Monday, citing people familiar with the matter. SCP is one of the largest shopping mall companies in China. The investment arm of Industrial and Commercial Bank of China Ltd. (01398.HK, 601398.CN) will invest alongside Blackstone and take a 6 percent stake in SCP, the report said.

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MY/AC/CG

 

 

 

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