Key Developments: Blackstone Group LP (BX.N)

BX.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

GridLiance and Blackstone announce the formation of a new electric transmission company
Tuesday, 31 Mar 2015 08:00am EDT 

Blackstone Group L.P:Says GridLiance GP, LLC and Blackstone Energy Partners forms GridLiance, a competitive transmission company focused on collaborating with under-served U.S. municipal, cooperative and joint action agency utilities.To jointly plan, develop, own and operate transmission infrastructure.New Projects to deliver important customer benefits, including lower delivered energy costs and more reliable transmission service.Under the GridLiance Municipal/Cooperative Network model, Public Power entities will have a partner that collaborates with them on the development of new customer-focused projects in which they can jointly invest.  Full Article

Blackstone and 233 South Wacker LLC announces definitive agreement for sale of Chicago's Willis Tower
Monday, 16 Mar 2015 08:33am EDT 

Blackstone Group LP:Blackstone and 233 South Wacker LLC signs definitive agreement for Blackstone Real Estate Partners VII to acquire Chicago's Willis Tower.The Willis Tower is a 3.8 million square-foot office building in downtown Chicago and, at 110 stories, is the second-tallest office building in the United States and the fifth-tallest office building in the world.The building also features a top Chicago tourist attraction in the Skydeck on the 103rd floor, which provides 1.6 million visitors per year with unmatched views of Chicago and the surrounding area including from the Ledge, glass cubes which extend from the building.  Full Article

Blackstone Group LP declares quarterly distribution
Thursday, 29 Jan 2015 07:00am EST 

Blackstone Group LP:Declares a quarterly distribution of $0.78 per common unit to record holders of common units at the close of business on Feb. 9.Distribution will be paid on Feb. 17.  Full Article

Pátria and Blackstone acquire four office buildings in Rio de Janeiro
Friday, 19 Dec 2014 07:00am EST 

Blackstone Group LP:Pátria Investimentos (Pátria) and Blackstone announced that Blackstone Real Estate Partners VII and Pátria Brazil Real Estate Fund III acquired four office buildings in Rio de Janeiro from Opportunity's Real Estate Fund for R$700 mln.Pátria and Blackstone will own the portfolio in 50/50 joint venture.This is the second investment Blackstone Real Estate Partners has made in Brazil in partnership with Pátria.Two of the buildings Visconde de Inhaúma Corporate and Sao Bento Corporate are located in downtown Rio de Janeiro, and other two buildings, Americas Corporate (Towers 3 and 4) and Peninsula Corporate, are located in the district of Barra da Tijuca.  Full Article

Blackstone acquires five retail assets in Portugal
Tuesday, 2 Dec 2014 10:17am EST 

Blackstone Group LP:Acquires further five retail assets in Portugal for European retail platform, Multi Corporation.The portfolio consists of 65,000 square metres of retail space, principally located in and around Lisbon.Retailers include Portuguese market leaders such as Continente and Modelo.Blackstone is acquiring the portfolio from funds managed by Novo Banco Group through ESAF - Espírito Santo Fundos de Investimento Imobiliário, S.A.  Full Article

The Blackstone Group L.P announces sale of IndCor Properties to GIC
Monday, 1 Dec 2014 10:44pm EST 

The Blackstone Group L.P:Says that the funds affiliated with Blackstone Real Estate Partners VI & VII have agreed to sell their wholly owned U.S. industrial platform, IndCor Properties, to affiliates of GIC, Singapore's sovereign wealth fund, for $8.1 billion.Says as a result of this transaction, IndCor will no longer be pursuing an IPO.Says IndCor owns and operates a portfolio of 117 million square feet of high-quality industrial properties in key markets throughout the United States.Says IndCor's assets are principally located in desirable in-fill industrial markets.Says the closing is expected to occur in the first quarter of 2015.  Full Article

Investcorp Bank BSC approves merge of its subsidiary with Blackstone Group LP subsidiary
Saturday, 8 Nov 2014 07:00pm EST 

Investcorp Bank BSC:Announces that it has signed the final agreement for the merge of its subsidiary, FishNet Security Inc, with Blackstone Group LP subsidiary, Accuvant Inc.Says that the company will keep holding a stake in the new merged unit, noting that the deal was completely financed by Blackstone Group LP.Announces the terms of the transaction were mot disclosed.  Full Article

Blackstone Group LP declares quarterly distribution
Thursday, 16 Oct 2014 07:00am EDT 

Blackstone Group LP:Declares a quarterly distribution of $0.44 per common unit to record holders of common units at the close of business on Oct. 27.Distribution will be paid on Nov. 3.  Full Article

Blackstone Group L.P to spin off Financial Advisory Business
Friday, 10 Oct 2014 08:29am EDT 

Blackstone Group L.P:Says that it has approved a plan to spin off its financial and strategic advisory services, restructuring and reorganization advisory services, and its Park Hill fund placement businesses.The parties expect the transaction to close in 2015.Upon completion of the spin-off, Blackstone's current unitholders will initially own about 65 pct. of the new entity.Blackstone's advisory employees will roll their Blackstone units into the new company and, combined with Taubman and his partners, will initially own about 35 pct. of the company.Taubman will serve as Chairman of the Board of Directors of the new company, which will also include four independent directors.  Full Article

Blackstone Group LP buys 2 IDFC Alternatives office parks-Business Standard
Tuesday, 30 Sep 2014 03:14pm EDT 

Blackstone Group LP:Has bought two office parks the 1.3-million sq ft Galaxy IT Park in Noida and the 1.5-million sq ft BlueRidge SEZ in Pune from fund manager IDFC Alternatives for 9.00 bln Indian Rupees-Business Standard.  Full Article

Market Chatter- Corporate finance press digest

March 31 - The following corporate finance-related stories were reported by media:

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