Blackstone to buy HK construction company Tysan for $322 mln

HONG KONG Mon Aug 19, 2013 5:18am EDT

HONG KONG Aug 19 (Reuters) - Blackstone Group's real estate arm has offered to buy Hong Kong-listed construction firm Tysan Holdings Limited for $322.6 million, according to a regulatory filing.

Blackstone, one of the world's biggest hedge fund investors, made the offer for Tysan at HK$2.86 per share, an around 10 percent premium to the previous close which values the company at HK$2,501,544,483 ($322.62 million).

Tysan shares jumped 11.5 percent to a record high of HK$2.9 before closing up 6.5 percent at HK$2.77 a share on Monday.

Blackstone, which is raising its first Asia real estate fund, made the offer through Tides Holdings II Ltd. Barclays Capital Asia advised Blackstone.

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