Market Chatter: New World Development's Talks With Blackstone on $4 Billion Fresh Capital Stall as Family Refuses to Cede Control

MT Newswires Live03-04

New World Development's (HKG:0017) talks with Blackstone over fresh capital have stalled over company control, Bloomberg reported Wednesday, citing people familiar with the matter.

The investment firm was in talks with the Cheng family, which controls New World Development, to invest about $2.5 billion to become the largest shareholder of the cash-strapped Hong Kong developer.

But the billionaire family, which would also invest $1 billion to $1.5 billion under the proposal, is exploring deals with other investors that do not involve ceding influence.

The Cheng family owns 45% of the business and is also exploring asset sales to generate cash for the property developer.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK1216","symbol_name":"多样化房地产活动","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2616583413","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2616583413","pubTimestamp":1772601007,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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