NEW WORLD DEV (00017.HK) issued a clarification announcement stating that it has become aware of media reports speculating that the controlling Shareholder and Blackstone (BX.US) may make a privatization offer for the company. The company clarifies that no party, including the controlling Shareholder and Blackstone, has approached the company regarding an offer to acquire its shares.
Earlier, Octus reported that Shanghai New World and its controlling Zheng family have been in negotiations with Blackstone for a potential financing deal of up to $2.5 billion, which could include preferred or common shares. This transaction might ultimately lead to a privatization offer by the Zheng family and Blackstone.
