Learn languages naturally with fresh, real content!

tap to translate recording

Explore By Region

flag Blackstone talks with Hong Kong’s New World stalled over control; family resists $2.5B investment amid debt and market pressures.

flag Talks between Blackstone and Hong Kong’s New World Development have stalled over disagreements on control, with the Cheng family resisting a proposed $2.5 billion investment that would make Blackstone the largest shareholder. flag The family, which owns 45.24% of the company, is exploring other funding options and asset sales to ease debt pressure amid Hong Kong’s weak property market. flag Despite a 26% rise in New World’s shares this year, no deal has been finalized, and the company continues to face financial strain, including a HK$3.7 billion loss and HK$122.7 billion in net debt.

4 Articles