China’s Vanke, partners in talks to pay Blackstone $1.9 billion for property firms

China Vanke Co Ltd said it and partners are in talks to acquire some commercial property firms from Blackstone Group LP and other third parties for 12.9 billion yuan ($1.9 billion). The disclosure is a more detailed response by Vanke, currently mired in a high-profile corporate power struggle, to enquiries from the Shenzhen bourse after criticism by its second-biggest shareholder that the board’s approval of a white knight deal was not valid as one director had abstained from voting.

Read more: Economic Times