Blackstone completes 20% stake purchase in Bluestar

China National Bluestar Group Corp (Bluestar) yesterday said it completed a stake transfer with Blackstone Group, in which the US private equity paid $600 million for a 20 percent stake.

Blackstone agreed on the deal in September last year. The latest move is its first major investment in China.

Bluestar is a subsidiary of China National Chemical Corp (ChemChina), the country's leading chemicals manufacturer.