Blackstone Inc. (NYSE:BX) agreed to acquire remaining 20% stake in Foshan Ruiyou Warehousing Co., Ltd. from Foshan Space Industrial Investment Center (Limited Partnership) for CNY 130 million.
August 09, 2024
Share
Blackstone Inc. (NYSE:BX) agreed to acquire remaining 20% stake in Foshan Ruiyou Warehousing Co., Ltd. from Foshan Space Industrial Investment Center (Limited Partnership) for CNY 99.1 million on August 9, 2024. A cash consideration of CNY 99.14 million will be paid by Blackstone Inc. As part of consideration, CNY 99.14 million is paid towards common equity of Foshan Ruiyou Warehousing Co., Ltd. Upon completion, Blackstone Inc. will own 100% stake in Foshan Ruiyou Warehousing Co., Ltd. As of September 13, 2024, the terms of deal were revised to approximately CNY 130 million.
As of March 31, 2024, Foshan Ruiyou Warehousing Co., Ltd. reported total assets of CNY 405.72 million and total common equity of CNY 152.01 million.
The transaction is subject to approval of merger agreement by target board. The deal has been approved by the board.
Blackstone Inc. is an investment firm. The Company's asset management business includes investment vehicles, which is focused on real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets, and secondary funds. The Company operates through four segments: Real Estate, Private Equity, Credit & Insurance, and Hedge Fund Solutions. Its Blackstone Real Estate Partners (BREP) business makes investments in logistics, office, rental housing, hospitality, and retail properties, as well as in a variety of real estate operating companies. The Private Equity segment includes Blackstone Capital Partners, Blackstone Energy Transition Partners, Blackstone Capital Partners Asia, and Blackstone Core Equity Partners. The Credit & Insurance segment includes Blackstone Credit and Blackstone Insurance Solutions (BIS). The Hedge Fund Solutions segment includes Blackstone Alternative Asset Management and GP Stakes businesses.
Blackstone Inc. (NYSE: BX) agreed to acquire remaining 20% stake in Foshan Ruiyou Warehousing Co., Ltd. from Foshan Space Industrial Investment Center (Limited Partnership) for CNY 130 million.
BLACKSTONE INC. 
