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Negotiations Between NEW WORLD DEV Cheng Family & Potential Investors Over Capital Injection Stalled: Rumor
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Negotiations between the Cheng family, major shareholder of NEW WORLD DEV (00017.HK), and potential investors over capital injection have stalled, Bloomberg quoted sources as saying. The deadlock is due to disagreements on how much control the Cheng family is willing to relinquish in exchange for funding. In September, it was reported that the Cheng family was considering injecting approx. $10 billion into NEW WORLD DEV and was seeking partners who could provide roughly equivalent funds in exchange for equity. Sources said that, in recent months, Blackstone (BX.US) had proposed an investment plan that included control over the transaction. AASTOCKS Financial News Website: www.aastocks.com |
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