Blackstone’s potential acquisition of a stake in New World Development (NWD) will help the embattled Hong Kong-listed developer improve its balance sheet and liquidity, benefiting creditors and shareholders alike, according to analysts. The New York-based private equity giant’s investment in NWD could take the form of “shareholder loans or direct equity financing, as well as…
Hong Kong-based Chow Tai Fook Enterprises (CTFE), the private investment holding company of the Cheng family and the parent firm of debt-ridden New World Development (NWD), has no plans to sell its prized Rosewood brand, according to sources familiar with the matter. “Rosewood has delivered exceptional results in recent years and is one of the…
Chow Tai Fook Enterprises (CTFE), the parent company of embattled Hong Kong developer New World Development (NWD), is selling Australian utility Alinta Energy to a Singapore-based group for A$6.5 billion (US$4.3 billion). Sembcorp Industries will acquire 100 per cent ownership of Alinta and its units, as well as Latrobe Valley Power (LVP) and its subsidiaries,…