Stocks News
- Blackstone to buy BlueStar stake
Date: 11-Sep-2007 Sources: (Shenzhen Daily)
BLACKSTONE Group LP, manager of the world's biggest buyout fund, agreed to pay as much as US$600 million for a 20-percent stake in China National BlueStar Group Corp., marking its first Chinese acquisition.
Blackstone will buy the stake in the specialty chemical maker from China National Chemical Corp., which will own 80 percent of BlueStar after the sale, according to a statement sent by Shenyang Chemical Industry Co., a unit of BlueStar and China National Chemical.
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