Blackstone-New World Negotiations Stall as Cheng Family Seeks to Keep Control
Discussions over a multi-billion dollar investment that would have made Blackstone the largest shareholder in New World Development have slowed after the Cheng family resisted surrendering control. The proposed structure called for roughly $2.5 billion from Blackstone into a special-purpose vehicle and a family contribution of $1 billion to $1.5 bi…