Blackstone Inc. is in advanced talks to acquire Retail Opportunity Investments Corp., which owns US shopping centres, Reuters reports, citing unidentified people familiar with the matter.
If the talks are successful, a deal could be finalised in the coming weeks, the people told Reuters, requesting anonymity as the matter is confidential.
Blackstone is likely to prevail in the auction for ROIC that had also attracted interest from other private equity firms, including Bain Capital, Reuters said, citing the people.
The people said a deal with Blackstone isn’t guaranteed and it’s possible that a rival suitor could emerge, according to Reuters. The media outlet also reported in July that Blackstone was in early talks to acquire the company.
Blackstone, ROIC and Bain didn’t immediately respond to requests for comment from Reuters.
By Susanne Barton
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