Abu Dhabi Investment Authority-backed Boyu Capital to acquire controlling stake in SKP from Beijing Hualian Group for $4bn.

Abu Dhabi Investment Authority-backed Boyu Capital, a Hong Kong–based private equity firm, is close to reaching an agreement to acquire a controlling stake in SKP, the operator of China’s premier luxury mall chain—including its flagship store in Beijing—from Beijing Hualian Group, for $4bn.