Private Equity Firm Takes Stake in ChemChina’s Bluestar

Blackstone Group (New York) says it will invest up to $600 million for a 20% stake in ChemChina’s (Beijing) China National Bluestar unit, the first major move in chemicals by a private equity firm in China. Bluestar has leading positions in China in silicones, engineering plastics, petrochemical intermediates, water treatment, and specialty chemicals. ChemChina and Bluestar have been building a presence outside of China with three acquisitions last year in feed additives, petchems, and silicones. Jianxin: Investment will aid global expansion. Bluestar...

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