Blackstone to buy Hong Kong construction company Tysan for $322 million
HONG KONG (Reuters) - Blackstone Group's (BX.N) real estate arm has offered to buy Hong Kong-listed construction firm Tysan Holdings Limited (0687.HK) 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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