- Dubai Debt Delay Rattles Stock, Bond Markets
- China Overcapacity Worsening, EU Chamber Warns
- Investing in Good Karma – and Making a Profit
- China Unveils Carbon Target Ahead of Copenhagen
- Wal-Mart Price Pressure Hurts China Workers: Report
- Black Friday to Avoid Red Ink; Greenback Gets the Blues
- Bankruptcies Jump, Hitting Highest Level in Four Years
- Steepest Black Friday Discounts, Revealed
- Where Do Pardoned Turkeys Go?
- 4 Thanksgiving Week Buys For Your Portfolio: Market Pros
- There's a 'Great Chance' For a Double-Dip Recession: Strategist
- Revenge of the Gangsta Nerds
- Will TCU See The "Flutie Effect?"
- Retail Earnings and Sales to Improve in Q4: Analyst
- Consumers Catching the Holiday Spirit
- It's Beginning To Look A Lot More Riskless
- Crescenzi: Claims Level Suggests End to Job Losses
- Hedge Funds Take Early Lead in Warren Buffett's 'Big Bet'
MOST SHARED
- The Executive Job Search
- Chinese Overcapacity is Worsening, EU Chamber Warns
- Where Do Pardoned Turkeys Go?
- Salvation Army's Kettles Now Credit Card-Ready
- US Mint to Suspend American Eagle Gold 1-Ounce Coins
- Activision Prepares to Double Dip on ‘Modern Warfare 2’
- Trader Talk
- Black Friday: Bargain or Bust?
- Wal-Mart Price Pressure Hurts China Workers: Report
Text Size 
Blackstone Group has agreed to buy 20 percent of chemical maker China National BlueStar (Group) Corp for up to $600 million, the private equity groups said on Monday, marking its first major investment in the fast-growing market.
Under the agreement, chemicals giant China National Chemical Corp is selling the stake to Blackstone and will hold 80 percent of BlueStar after the deal.
Blackstone [BX
Loading...
()
], in which China's state overseas investment agency recently bought a $3 billion stake, will nominate two executives, its China chief Antony Leung and Ben Jenkins, to BlueStar's board, the statements said.
The U.S. firm, which has taken part in some of the world's largest leveraged buyouts, raised $4.13 billion in its initial public share offer in New York in June, the largest U.S. IPO since 2002.
BlueStar, with annual sales of 30 billion yuan ($4 billion), is the parent company of Shenyang Chemical Industry and Blue Star Cleaning, and holds a stake in Blue Star New Chemical Material.
Print
Email
- For nearly three decades, these on-call experts have been dishing advice on how to – and not to – cook turkey.
- Eric Schmidt pledges to create a virtual copy of the Iraq National Museum at Google’s expense.
- Bill Griffeth is taking a leave of absence from CNBC and Power Lunch for a year. Here's a message from Bill.
- More shoppers than ever plan to comparison-shop this season. Who will benefit?
- It may be the most unusual guide to business you'll read.
- How can you get out of debt and back on the road to recovery? Follow these ten steps.
Data is a real-time snapshot *Data is delayed at least 15 minutes