China Vanke Reportedly Plans to Buy a Shanghai Tower From Carlyle by Reuters @FortuneMagazine 7:56 AM EDT E-mail Tweet Facebook Linkedin Share icons China Vanke is seeking to buy Central Plaza in Shanghai from private equity firm Carlyle Group for around 2.46 billion yuan ($368.94 million), Basis Point reported on Friday, quoting sources. Vanke, the residential property developer at the center of a high-profile power struggle, is planning to buy through its wholly owned private equity arm V Capital, with a $194 million loan facility, sources told Basis Point. China’s top homebuilder will eventually hold only a 10% interest in the property after selling 90% to a third party, it said. Subscribe to Term Sheet, Fortune’s daily email about deals and deal-makers. Vanke did not respond to an email seeking comment, while Carlyle declined to comment. Central Plaza is a grade-A office tower in Shanghai’s central business district Huangpu, opposite to the city’s landmark Shanghai Grand Theatre. Carlyle bought the building from Singapore-listed real estate fund Forterra Trust for $267 million in April 2013. See also: Qatari Sovereign Wealth Fund Buys a Stake in the Empire State Building Meanwhile, Vanke is trying to fend off a hostile takeover by financial conglomerate Baoneng Group with a $6.9 billion deal with white knight Shenzhen Metro. However, the deal was opposed by major shareholders as it will dilute their shareholding.