Monday, May 21, 2007

Blackstone sets IPO, China to take stake

(Reuters) - NEW YORK, May 21 - Blackstone Group LP [BG.UL] on Monday said it planned to raise as much as $4.13 billion in its initial public offering, one of the year's most eagerly awaited from a U.S. company.



The news comes after Blackstone on Sunday said China's new state investment agency would take a $3 billion nonvoting stake in the private equity firm.


Read more at Reuters.com Mergers News

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