As $4.3, Bln Blackstone buy signals of confidence in Country's real estate!

The Soho China shares, one of China's largest and most renowned commercial property developers, jumped 21% on Thursday after Blackstone Group funds offered to acquire the company in a transaction amounting to $3 billion. freelancers

As China's economy continues to rebound from the COVID-19 pandemic, the deal also signals Blackstock's faith in its long-term prospects, even in a period of geopolitical tension with the U.S. and Europe. According to a Wednesday report, Blackstone offers HK$5, compared to the closing price of HK$4,60.

Founded in 1995, Soho owns 1.3 million square meters of real estate, mainly in Shanghay and Beijing, controlled by a billionaire pair of Pan Shiyi and Zhang Xin. Distinguished projects with Zaha Hadid, who died in 2016, contributed to putting the couple and Zhang on the world's immobilization map. Both will continue to own 9 percent of the business after the investment of Blackstone, worth $4.3 billion on the Forbes Real-Time Billionaires List today. The company does not plan to delist, according to the filing.

By March 31, Blackstone had $196 billion in real estate investment. The company is headed by American billionaire Stephen Schwarzman, son of a dry goods company owner whose philanthropy consists of a school at Schwarzman College, Beijing. Blackstone Group's traded New York shares rose 1.2 percent yesterday to close at $98.48.

Stephen Schwarzman, the billionaire chairman of Blackstone's investment firm, knows more than most about relations between the United States and China. For example, a college committed to fostering communication between China and the rest of the world is among the beneficiaries of his philanthropy.

In an initial speech to the 2018 graduate class of Schwarzman college in Beijing on Saturday, Schwarzman specifically did not mention Donald Trump or the tariffs imposed by Beijing last week on $34 billion of imports from China. He said, however, that both countries must rebalance many aspects of their relationship.

"It is vital for our nations to do so constructively and pacifically when China and the U.S. undertake the challenging but necessary process of restarting their relationship across a variety of dimensions from trade to foreign policy and so many others."

Schwarzman, son of a dry goods store owner, today worth $13 billion, said he was confident that U.S. Chinese ties will not unravel in the end.

"Disagreements sometimes arise in any complex relationship that need to be addressed. But I personally am confident in the strength of the links between China and the US in particular and that our desire to preserve this important relationship will prevail."

The US-China trade friction is increasing in the midst of China's continuing large trade surpluses, market access disputes, and industrial policy disputes.

Schwarzman's school exists to try to iron out such problems. "The success of future leaders around the world, whether in politics, business or science, will depend on China's understanding of its role in global trends," according to the website of the Schwarzman College. Graduates graduate from Tsinghua university, one of China's top schools, with a master's degree in global affairs.

"We have established this program to foster communication and understanding between China and the world," said Schwarzman on Saturday. "China's interactions with the United States and other regions are now more important than ever in order to ensure global prosperity and peace."

Swarzman's broader observations on life encouraged graduates to be resilient to adversity and to pursue areas they truly love "not just what might look nice at a curriculum vitae."

China's Schwarzman College business fans include China Oceanwide Holdings and Richard Liu, chairman of Schwarzman has pledged or given $350 million to other schools, including the University of Yale.

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