Blackstone to Become Largest Shareholder of Hong Kong's New World, Bloomberg Reports

Blackstone to become largest shareholder of Hong Kong's New World, Bloomberg reports

Private equity firm Blackstone is close to securing a deal that would make it the largest shareholder of Hong Kong's property developer New World Development, Bloomberg News reported on Thursday, citing people familiar with the matter.

Blackstone Nears Deal to Become New World’s Largest Shareholder

Blackstone Inc. is in advanced talks to become the single largest shareholder of New World Development Co., according to people familiar with the matter, a move that would see one of Hong Kong’s richest families relinquish control of a major asset.

NWD says parent approached by investors after report links Blackstone to sale

The debt-laden Hong Kong developer confirms investor approaches with its parent after reports of a possible stake sale and turnaround plan.

New World Says No Deal Yet on Reports of Blackstone Investment

New World Development said late Thursday that no agreement has been reached regarding potential investments in the company, after a Bloomberg report hours earlier indicated that Blackstone is nearing a deal to become the embattled developer’s largest shareholder. Citing discussions... Read More>> The post New World Says Nothing Signed Yet as Blackstone Said Set to Become Largest Shareholder appeared first on Mingtiandi.

Blackstone in advanced talks to be New World Development’s largest shareholder

Under the proposed deal, the US company would be able to restructure the embattled developer