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Blackstone drops US$3.05 billion offer for Soho China amid regulatory review of takeover of the largest developer in Beijing



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US private equity giant Blackstone Group has abandoned its US$3.05 billion offer to buy developer Soho China, halting its expansion plans in the mainland Chinese market through one of its biggest real estate acquisitions in Asia.The firm decided not to proceed with its HK$5 per share offer for the developer, citing the lack of progress in fulfilling the conditions by the targeted completion date of December 31, according to an exchange filing on Friday. That offer in June valued the entire…

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