HONG KONG Aug 27 Global private equity giant
Carlyle Group is in advanced talks with China Vanke Co
Ltd, the country's largest developer, to buy stakes in
nine of its shopping malls, two sources with direct knowledge of
the matter told Reuters.
One of the sources said the deal was valued at between 6 and
7 billion yuan ($976 million to $1.14 billion), while the other
said it could be worth up to 10 billion yuan. Neither was
authorised to speak to the media.
A non-binding memorandum of understanding could be signed as
early as Thursday, both sources said.
Both Carlyle and Vanke declined to comment.
The deal would give Carlyle access to China's commercial
real estate market and enable Vanke to generate fast cash
returns from commercial properties in a slumping residential
($1 = 6.14 Chinese yuan)
(Reporting by Clare Jim and Stephen Aldred; Editing by Anne
Marie Roantree and)