Prime rent

10 March 2020 By Robyn Mak Follow @mak_robyn

The private equity firm is in talks to buy Soho China for $6.3 bln. A 101% premium is eye-catching, but the collection of skyscrapers – some designed by Zaha Hadid – look cheap. After Blackstone’s lucrative run selling to mainland buyers, this deal’s timing warrants attention.

This content is for Subscribers only

Subjects

Regions

Context News

Private equity firm Blackstone is in exclusive talks to buy property developer Soho China, Reuters reported on March 10, citing unnamed sources.

Blackstone offered HK$6 per share, a 101% premium to the closing price on March 9, valuing the company’s equity at $4 billion.

Soho China Chairman Pan Shiyi and his wife, Zhang Xin, who is chief executive, own a combined 63.9% of the company and plan to retain a small stake after any deal with Blackstone, according to Reuters.

Shares of Soho rose 37.6% by early afternoon on March 10 to HK$4.10.

Email a friend

Please complete the form below.

Required fields *