Blackstone terminated the $3.05bn acquisition of a 91% stake in SOHO China.

The Blackstone Group terminated the $3.05bn acquisition of a 91% stake in SOHO China, a Chinese building developer. The US private equity group had made its offer conditional on approval by the country’s competition authorities and in a joint statement, Blackstone and Soho China said they would not be able to receive antitrust approval in the agreed-upon timeframe.