Blackstone Real Estate Partners Asia II L.P. and others managed by The Blackstone Group Inc. (NYSE:BX) cancelled the acquisition of 91% stake in SOHO China Limited from Boyce Limited and Capevale Limited.
Blackstone Real Estate Partners Asia II L.P. and others managed by The Blackstone Group Inc. (NYSE:BX) cancelled the acquisition of 91% stake in SOHO China Limited (SEHK:410) from Boyce Limited and Capevale Limited (BVI) on September 10, 2021. As a result of the lack of sufficient progress in satisfying the pre-conditions, Blackstone and and others managed by group, Boyce Limited and Capevale Limited and SOHO China Limited have together assessed the ongoing review process which is required to satisfy the pre-conditions and the prospects of bringing such process to a successful conclusion within the offer timetable. The Parties have concluded that the pre-conditions are unable to be satisfied on or before the long stop date. The Parties have also agreed that there will be no extension to the Long Stop date and mutually agreed that the offer should not be made.