New tax law could hurt Blackstone float

Private equity firm Blackstone has
revealed that a new US tax law proposed by the leaders of the
Senate finance committee could
reduce its stock market valuation.

In a regulatory filing, Blackstone said that legislation introduced this week
by Democrat senator Max Baucus and
Republican member Chuck
would ‘materially increase our tax liability and could well result
in a reduction in the value of our common units’.

The company is facing growing political challenges to its planned $7.8bn
(£3.9bn) stock market listing.

Further reading:

Blackstone takes profits hit after accounting change

ICAEW head of corporate finance defends private equity

Private equity bosses face Treasury grilling

Related reading

PwC office 2