Blackstone-New World talks stall over control issues

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Blackstone-New World talks stall over control issues

privateequitywire

3 months ago

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Talks between Blackstone and New World Development over a potential $4bn recapitalisation have stalled as the Cheng family resists relinquishing control of the company, according to a report by Bloomberg.
Blackstone had proposed injecting about $2.5bn into a special-purpose vehicle that would become the developer’s largest shareholder, while the Cheng family would contribute between $1bn and $1.5bn. Discussions have reportedly slowed as the family explores alternative funding options that would...

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