ChemChina and Blackstone Announce Closing of Investment in Bluestar.BEIJING & NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- China National Chemical Corporation ("ChemChina") and The Blackstone Group Blackstone Group L.P. (NYSE: BX) is a prominent private equity and investment management firm founded in 1985 by Peter G. Peterson and Stephen A. Schwarzman. The company is based in New York City, in River House on Park Avenue at Fifty-first Street, with offices in Atlanta, ("Blackstone") today announced the closing of Blackstone's investment in China National Bluestar (Group) Corporation ("Bluestar"), a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of ChemChina. Bluestar has also completed its group restructuring and has registered as a Sino-foreign joint stock limited company. Blackstone will invest up to US$600 million in Bluestar for a 20% stake. Two Senior Managing Directors of Blackstone, Antony Leung Antony Leung Kam-chung GBS JP (梁錦松, Pinyin: Liáng Jǐnsōng, born 1952 in Hong Kong with family root in Shunde, Guangdong) was the former Financial Secretary of the Hong Kong Special Administrative Region (HKSAR). and Ben Jenkins, will join the board of Bluestar. About ChemChina ChemChina is a large-scale state-owned company approved by the State Council on the basis of companies affiliated with the former Ministry of Chemical Industry. ChemChina was founded on 9th May 2004, and administrated by the State-owned Assets Supervision and Administration Commission of the State Council of China, it is headquartered in Beijing. Through fast growth in the last 4 years, ChemChina is now a large group corporation with both asset value and revenue exceeding RMB RMB Right Mouse Button RMB Regional Management Board (USACE) RMB Rolf Maier Bode (musician, band) RMB Ren Min Bi (currency of People's Republic of China) 100 billion. ChemChina is ranked 35th among China's top 500 corporations, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. National Bureau of Statistics of China. About Bluestar Bluestar is a large-scale state-owned company under ChemChina. Its main businesses include chemical new materials and specialty chemicals, it is headquartered in Beijing. Bluestar has 25 manufacturing plants and 4 scientific research institutes in China. It also has 15 manufacturing plants and 7 research and technology service institutes overseas; its marketing network expands to over 140 countries around the world. About The Blackstone Group The Blackstone Group is a leading global alternative asset manager and provider of financial advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal . Its alternative asset management businesses include the management of corporate private equity funds, real estate opportunity funds, funds of hedge funds, mezzanine funds, senior debt funds, proprietary hedge funds and closed-end mutual funds. The Blackstone Group also provides various financial advisory services, including mergers and acquisitions advisory, restructuring and reorganization advisory and fund placement services. www.blackstone.com |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion