Market Chatter: New World Development, ADIA Mull HK$3 Billion Hyatt Regency Sale to UOL

MT Newswires09-22

New World Development (HKG:0017) is reportedly looking to sell 50% stake in Hyatt Regency hotel to Singapore-based UOL Group (SGX:U14), Bloomberg reported Tuesday citing people with knowledge of the matter.

Abu Dhabi Investment Authority (ADIA), which owns the remaining 50% interest in the hotel, is also exploring a sale to the same buyer, according to the people.

The potential deal would value the Hong Kong hotel at HK$3 billion, the report revealed.

New World Development, Abu Dhabi Investment Authority, and UOL Group did not immediately respond to MT Newswires' request for a comment.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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