Cheng Family Plans Capital Injection into NEW WORLD DEV by Year-End, Involving Around HK$10 Billion While Seeking Equal-Amount Funding Partners
Deep News
Sep 01
According to foreign media reports, the Cheng family, controlling shareholders of NEW WORLD DEV, is considering injecting capital into NEW WORLD DEV as early as the end of this year.
The Cheng family may contribute approximately HK$10 billion and is seeking partners who can provide roughly equivalent funding in exchange for equity stakes. The plan under discussion involves establishing a joint venture company to provide liquidity to New World. Negotiations are still ongoing, and details regarding the transaction scale and structure may still change.
Companies participating in the capital injection negotiations include Blackstone and CapitaLand Group. Both companies may be in discussions with New World regarding the acquisition of some of the latter's assets.
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