HK-lsited Soho China plunges amid report Blackstone deal faces hurdle

SOHO China

29/07/2021 08:58

** Shares in office developer Soho China  0410.HK  plunge
21% to their lowest since June 10
    ** A media report circulated among investor and lawyer
groups, seen by Reuters, says Soho China's sale to Blackstone
Group Inc  BX.N  is facing regulatory hurdles related to its
founders, citing two sources
    ** The report says CEO and chairman are currently in the
United States, and it's unclear whether they plan to travel to
China in the near future
    ** Soho China did not immediately respond to Reuters request
for a comment 
    ** Soho China said last month that Blackstone will take
control of the co in a $3 bln deal, and it will maintain its
stock market listing  urn:newsml:reuters.com:*:nL3N2NY12L
    ** Deal is subjected to Chinese competition authority's
approval 
    ** Shares down as much as 31% in early trading
    ** Stock is biggest percentage decliner in the Hong Kong
composite Industry Index tracking properties and construction
stocks  .HSCIPC 
    ** Hang Seng Index  .HIS  gains more than 3%


 ((clare.jim@thomsonreuters.com; +852 2912 6653; Reuters
Messaging: clare.jim.thomsonreuters.com@reuters.net))