Blackstone drops US$4 billion New World deal, Bloomberg News reports
Blackstone has walked away from a proposed US$4 billion (HK$31.2 billion) tie-up with Hong Kong’s New World Development (0017) after the indebted property developer refused to cede control, Bloomberg News reported on Wednesday, citing people familiar with the matter. Blackstone declined to comment. New World did not immediately respond to a Reuters request for comment….