Blackstone buys 40% stake in China mall giant SCP

[HONG KONG] Blackstone Group LP, the world's biggest manager of alternative assets including private equity and real estate, agreed to buy a 40 per cent stake in Chinese shopping mall developer and operator SCP Co.

ICBC International Holdings, a Hong Kong unit of China's largest bank, also agreed to buy a 6 per cent stake in Shenzhen-based SCP, taking its total asset values to more than US$2 billion, according to a joint e-mailed statement yesterday. New York-b…