The state investment agency of China has announced plans
to invest $3 billion in US private equity firm Blackstone in a landmark deal for the industry and the government. The agency, which was only established in March, will acquire the stake at 95.5% of the price to be set in Blackstone’s flotation, which is planned for later this year. Th e purchase of a stake, which will be just under 10%, values the whole of Blackstone at $30 billion. The Chinese government typically invests most of the reserves in more secure though lower-yielding US Treasury bonds.
to invest $3 billion in US private equity firm Blackstone in a landmark deal for the industry and the government. The agency, which was only established in March, will acquire the stake at 95.5% of the price to be set in Blackstone’s flotation, which is planned for later this year. Th e purchase of a stake, which will be just under 10%, values the whole of Blackstone at $30 billion. The Chinese government typically invests most of the reserves in more secure though lower-yielding US Treasury bonds.For Complete IIPM Article, Click on IIPM Article
Source: IIPM Editorial, 2006
An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative
Source: IIPM Editorial, 2006
An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative
