Thursday, October 16, 2008 10:57:23 PM
China to Buy a Stake in Blackstone
by: ANDREW ROSS SORKIN and DAVID BARBOZA
Published: May 21, 2007
10/16/2008
SAN FRANCISCO (MarketWatch) -- Blackstone Group LP has revised an agreement with a Chinese investment vehicle to raise the beneficial ownership limit to 12.5% from 9.99%, according to a regulatory filing submitted by Blackstone on Thursday. In May 2007, Blackstone had entered into a deal with Beijing Wonderful Investments, which was later transferred to China Investment Corp., to sell 101.3 million non-voting common units. At the time, the agreement included a restriction preventing Beijing Wonderful and its affiliates from buying more than 9.99% in Blackstone
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