ChemChina and Blackstone announce closing of investment in Bluestar

Businesswire India
Posted: 2008-10-06 16:48:25+05:30 IST
Updated: Oct 06, 2008 at 1648 hrs IST

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China National Chemical Corporation ("ChemChina") and The Blackstone Group ("Blackstone") announced the closing of Blackstone's investment in China National Bluestar (Group) Corporation ("Bluestar"), a wholly owned subsidiary 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 and Ben Jenkins, will join the board of Bluestar.

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ChemChina and Blackstone announce closing of investment in Bluestar

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