An­bang close to Black­stone deal

China Daily (USA) - - BUSINESS -

An­bang In­sur­ance Group Co is close to buy­ing res­i­den­tial prop­erty as­sets in Ja­pan from Black­stone Group LP, its first foray in the coun­try since a failed bid for an as­set man­ager last year, sources said. A deal may be signed as early as this week for the as­sets, worth about $2.3 bil­lion. It will be An­bang’s first real es­tate pur­chase in Ja­pan af­ter its failed bid for prop­erty as­set man­ager Sim­plex As­set Man­age­ment last year.

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