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Deals

BioMed valued at $14.6 billion in deal for sale from one Blackstone fund to another

FILE PHOTO: The ticker and trading information for Blackstone Group is displayed at the post where it is traded on the floor of the New York Stock Exchange (NYSE) April 4, 2016. REUTERS/Brendan McDermid

(Reuters) - Blackstone Real Estate Partners and co-investors have agreed to sell BioMed Realty for $14.6 billion to a group led by existing BioMed investors, Blackstone Group Inc BX.N said on Thursday.

Blackstone had agreed to buy BioMed Realty, a supplier of office space to healthcare companies, in late 2015 in a deal valued at $8 billion. (reut.rs/341V5a3)

Blackstone said on Thursday it is commencing a “go-shop” process on behalf of BioMed’s current investors, with the recapitalization expected to close within five business days after the process concludes.

Reporting by Kanishka Singh; Editing by Devika Syamnath

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