Private equity giant Blackstone is reportedly close to securing a deal that would make it the largest shareholder in Hong Kong property developer New World Development, according to a Bloomberg report citing sources familiar with the matter.
New World, controlled by the wealthy Cheng family through their conglomerate Chow Tai Fook Enterprises (CTFE), currently sees the family holding 45.24% of the company. It is not yet clear how large a stake Blackstone would acquire or what the terms of the tr...
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