By Anirban Sen
(Reuters) – Personal equity company Blackstone (NYSE:) is in early-stage talks to build up Retail Different Investments Corp (NASDAQ:), an proprietor of U.S. buying services with a market price of about $1.7 billion, consistent with of us accustomed to the matter.
Blackstone’s curiosity comes after ROIC’s shares misplaced larger than 10% of their price inside the remaining 12 months, underperforming one other precise property funding trusts. The buyout company’s technique signifies it sees values in ROIC’s properties, which primarily residence supermarkets and drugstores.
No deal is particular and one different bidder for ROIC would possibly emerge, the sources talked about, requesting anonymity on account of the matter is confidential.
Blackstone declined to comment. ROIC didn’t immediately reply to requests for comment.
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