Blackstone Offers $322M For Hong Kong Property Co.

Law360, New York (August 19, 2013, 1:06 PM EDT) -- A unit of private equity giant The Blackstone Group LP offered 2.5 billion Hong Kong dollars ($322 million) for Hong Kong property group Tysan Holdings Ltd., according to a Monday securities filing, setting up what could be the first deal for the firm's pan-Asian real estate fund.

Under the proposed terms, Blackstone would pay HK$2.86 per share, a 10 percent premium over Tysan's close on Aug. 9, before it suspended trading ahead of its announcement of Blackstone's proposed buyout. The price is nearly a 60 percent...
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