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Deals

Blackstone subsidiary walks away from SOHO China buyout

(Reuters) - Blackstone Group Inc has abandoned its $3 billion bid to take full control of SOHO China Ltd, the office developer said in a filing on Friday.

The U.S. private equity giant’s investment vehicle in the deal, Two Cities Master Holdings II, had decided not to make the offer, the filing said.

The U.S. private equity firm in June offered HK$5 per share, 31.6% higher than SOHO China’s closing price at the time, in what would have been its largest real estate deal in China.

The companies gave no details on the reasons for the deal’s falling through.

Reporting by Patrick Graham; Editing by Anil D’Silva

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