Blackstone buys into China shopping mall developer
The Blackstone Group and ICBC International will acquire stakes of 40% and 6% respectively in Chinese shopping mall developer and operator SCP. The financial terms were not disclosed but Blackstone’s investment is reported to be worth $400 million.
SCP has been a shopping mall investor, developer and operator for over a decade. It has developed over 60 projects in that time and currently owns and manages 19 shopping malls under three brands - Incity,...
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