Blackstone Nears Deal to Become New World’s Largest Shareholder

Blackstone Inc. is in advanced talks to become the single largest shareholder of New World Development Co., according to people familiar with the matter, a move that would see one...

By Kari Soo Lindberg, Cathy Chan, Shirley Zhao, Shawna Kwan · Bloomberg Markets

Blackstone Inc. is in advanced talks to become the single largest shareholder of New World Development Co., according to people familiar with the matter, a move that would see one of Hong Kong’s richest families relinquish control of a major asset.