Blackstone, China, property

Blackstone to buy Hong Kong’s Tysan for $322.6 million

US group has offered to buy Hong Kong-listed construction and property firm Tysan Holdings for HK$2.5 billion ($322.6 million) in cash.
Stephen Schwarzman, Blackstone’s chairman and chief executive, said China’s economic slowdown was creating opportunities to invest.
Stephen Schwarzman, Blackstone’s chairman and chief executive, said China’s economic slowdown was creating opportunities to invest.

Blackstone Group, the world’s largest private equity firm, is set to buy property and construction group Tysan Holdings for HK$2.5 billion $322.6 million, according to a stock exchange filing.

The US group’s real estate business is one of the largest property investment managers in the world.

It has already made investments in Shanghai, Dalian, Nantong and Wuhan according to the filing. In one deal Blackstone bought Shanghai’s Huamin Imperial Tower, which has 50,000 square meters of office space.

Stephen Schwarzman, Blackstone’s chairman and chief executive, said in Hong Kong last October that China’s economic slowdown was creating opportunities to invest. Other executives...

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