Even China couldn’t resist this! The state inve
stment 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. The 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.
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stment 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. The 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, 2007
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
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