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Blackstone Gets OK to Buy Stake in China National Bluestar

12:05 PM MST | January 11, 2008 | CW Editorial Staff

Private equity fund Blackstone Group (New York) has received approval from China's economic planning agency to buy a 20% stake in ChemChina’s (Beijing) China National Bluestar. Blackstone announced in September 2007 that it will invest up to $600 million for a 20% stake in Bluestar, which has leading Chinese positions in silicones, engineering plastics, petrochemical intermediates, water treatment, and specialty...

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