Evergrande Regains Rest Of China Development For $162M

Law360, New York (January 19, 2012, 4:47 PM EST) -- Chinese commercial and residential developer Evergrande Real Estate Group Ltd. has bought back the outstanding 40 percent of a Guangzhou housing development from a Blackstone Group LP-led joint venture partner for $161.6 million, Evergrande reported in a stock filing Wednesday.

Once the deal closes, Hong Kong-based Evergrande will once again own 100 percent of Evergrande Royal Scenic Peninsula, which had a value of about $251 million as of June 30, according to the filing with the Hock Kong Stock Exchange.

The sellers were Blackstone-operated MB Asia...
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