30.11.2011 - Greentown 'in talks with CIC unit, Blackstone' on JV
Greentown China Holdings Ltd, a Hangzhou-based property developer, is talking with a subsidiary of China Investment Corp (CIC), Blackstone Group and Beijing Greentown Sunshine Investment Co to set up a joint venture (JV) for domestic property development. "With a 60 percent stake, China Jianyin Investment Securities Co is to launch the JV, and the Blackstone Group will take a 10 percent stake in the JV via its private-equity team," said a source with knowledge of the deal on Monday...............................................Full Article: Source
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