Carlyle discussing stakes in Vanke's shopping malls

|About: The Carlyle Group (CG)|By:, SA News Editor

Carlyle Group (NASDAQ:CG) is said to be in advanced talks with China's largest developer, China Vanke (OTC:CVKEY), to buy stakes in nine of its shopping malls.

The purchase would give Carlyle access to China's commercial real estate market and a non-binding memorandum of understanding could be signed as early as tomorrow.

Sources say the deal could fetch between 6B-7B yuan ($976M-$1.1B) or even be valued at up to 10B yuan.