Vanke in Talks for $1.9 Billion of Property From Blackstone

  • Deal was reason for director’s controversial vote abstention
  • Vanke is embroiled in tussle for control by major shareholders

China Vanke Co. and its partners are in talks to pay about 12.9 billion yuan ($1.9 billion) for commercial property from Blackstone Group LP and other parties, a deal that first drew attention last month after a Vanke director abstained from a key vote citing a conflict of interest due to the transaction.

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