13.10.2008 - Blackstone drops $161 million China property deal
From Bloomberg: U.S. private equity firm Blackstone Group LP dropped a 1.1 billion yuan ($161 million) Shanghai property purchase amid the global financial crisis and China's real-estate price slump. Blackstone scrapped the planned purchase of a 90 percent stake in Changshou Commercial Plaza in the eastern Chinese city, the Hong Kong-based, English-language newspaper said, quoting unidentified people. The plaza consists of two towers with a six- level shopping center and commercial complex in one..... Full Article: Source