Blackstone (BX.NYSE), a US private-equity firm, has bought a 40% stake in SCP Company, a Chinese mall developer and operator, The Wall Street Journal reported. Blackstone did not disclose the size of the investment but said SCP will have a total asset value of more than US$2 billion once the deal has gone through, making it the firm’s biggest mall investment in Asia to date. In August, Blackstone made an offer to acquire Chinese property developer Tysan Holdings (0687.HKG) for US$322 million and in January, invested in a site in Nantong, Jiangsu province where it plans to build a shopping mall, office and residential buildings.
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