New World Development (NWD), the embattled Hong Kong property developer, said late on Thursday that its parent, Chow Tai Fook Enterprises (CTFE), has been approached by potential investors after reports that CTFE may sell part of its stake to Blackstone.
Bloomberg reported early that Blackstone – the world’s biggest asset manager – was in discussion to become the single largest shareholder of NWD, citing people familiar with the matter.
Under the proposed arrangement, the US alternative asset…
NWD says parent approached by investors after report links Blackstone to stake sale
