Blackstone, ICBC unit to buy stakes in China shopping mall operator

Reuters

HONG KONG, Nov 4 (Reuters) - Global private equity firmBlackstone Group has agreed to buy a 40 percent stake inChinese shopping mall operator and developer SCP Co Ltd for anundisclosed value, SCP said in a statement on Monday.

SCP said in a separate statement that ICBC InternationalHoldings, a unit of Industrial and Commercial Bank of China Ltd, has also agreed to buy a 6 percent stake in thecompany.

Unlisted SCP will have total assets valued in excess of $2billion after the deal, according to the company.

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