Blackstone Buys Stake in Chinese Mall Developer (Asia)

Source: Asian Venture Capital Journal  |  Author: Mirzaan Jamwal

Global investment and advisory firm The Blackstone Group and investment banking service provider ICBC International have purchased a 40 percent and a six percent stake, respectively, in China-based mall developer and operator SCP Company. Blackstone’s investment, which was structured through Blackstone Real Estate Partners Asia, is reported to be worth US$400 million. SCP has developed over 60 projects and currently owns and manages 19 shopping malls.