HONG KONG (dpa-AFX) - New World Development Company Limited said it is aware of recent media speculation regarding potential new investors, but confirmed that no agreement has been reached, according to a filing with the Hong Kong stock exchange.
The company said it made enquiries with its controlling shareholder, Chow Tai Fook Enterprises Limited, which indicated it has been approached by several potential investors about possible investments in the company. However, there is currently no agreement on the amount, nature, or form of any such investment, and there is no assurance that any transaction will proceed.
The company said it will issue further announcements as appropriate in compliance with listing regulations and applicable laws.
Earlier, reports claimed that Blackstone Inc. is in advanced discussions to become the single largest shareholder of New World Development Company Limited.
According to a report by Bloomberg News, citing people familiar with the matter, the potential deal could enable the U.S. investment giant to help restructure the Hong Kong-based developer as it continues efforts to divest assets and strengthen liquidity.
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