New World reportedly in talks to sell Hong Kong hotel stake to UOL
Bloomberg reports that the property firm is discussing a sale of its 50% stake to Singapore’s UOL Group, citing people familiar with the matter.
TLDR
New World Development is in talks to sell its 50% stake in a Hong Kong hotel to Singapore’s UOL Group, Bloomberg reports, citing people familiar with the matter. The report puts the proposed hotel sale at HK$3 billion and also names ADIA as involved in the talks.
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