<article>Private equity firm <a href="https://www.dealstreetasia.com/?s=Blackstone" target="_blank" rel="noopener">Blackstone</a> is looking to divest its majority stake in Chinese firm Xinrong Best Medical Instrument Co Ltd.</article>

Private equity firm <a href="https://www.dealstreetasia.com/?s=Blackstone" target="_blank" rel="noopener">Blackstone</a> is looking to divest its majority stake in Chinese firm Xinrong Best Medical Instrument Co Ltd.
The PE giant has hired Morgan Stanley to work on the sale process, which is expected to start in early 2018. The stake sale could fetch Blackstone about $400 million, said a <a href="https://www.wsj.com/articles/blackstone-to-sell-stake-in-chinese-medical-device-maker-1510059920" target="_blank" rel="noopener">report</a> in The Wall Street Journal citing people aware with the development.
Blackstone had invested an undisclosed amount in Xinrong in 2014.
Founded in 2000, Xinrong is a China leader in medical technology. The company offers innovative solutions in orthopedic extremity surgery, neurosurgery, and reconstructive surgery. It was one of the first companies in China cleared by SFDA to manufacture orthopedic implants.
In June, SpineGuard and XinRong Medical Group signed an exclusive distribution agreement to sell PediGuard in China.
Blackstone, one of the largest owners of commercial real estate in India, had recently put three pieces of land up for sale at an expected valuation of Rs1,000-1,100 crore, according to a media report. The PE firm is also looking to launch a $10 billion infrastructure fund.
Blackstone had deployed about $6 billion of equity in 25 to 30 infrastructure deals, mostly in energy, over the past 15 years. Annualized returns on those investments had been as high as 40 percent.
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PE firm Blackstone is looking to divest its majority stake in Chinese firm Xinrong Best Medical Instrument Co Ltd.

Blackstone to sell majority stake in China's Xinrong Best Medical Instrument

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Blackstone to sell majority stake in China's Xinrong Best Medical Instrument

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