SHANGHAI-Blackstone Group LP is marketing its 95% interest in a Shanghai mall to Hong Kong-listed New World Development Co. for CNY 1.46 billion ($228 million). Last week, New World Development agreed to purchase the Channel One shopping center from two sellers.
The deal is expected to be closed in early November. Blackstone acquired its stake in the property for CNY 1 billion in November 2008. The Channel One shopping mall comprises 452,082 square feet of retail space. For the full story, go to Wall Street Journal .
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