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NWD Mulls to Sell Kai Tak Sports Park Limited; CSTB Confirms Application Received, Will Handle as per Contract
Recommend 10 Positive 16 Negative 9 |
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NEW WORLD DEV (00017.HK) announced yesterday (26th) that it is in discussions with its major shareholder Chow Tai Fook Enterprises Limited (CTFE) regarding the potential disposal of all its equity interest held in Kai Tak Sports Park Limited (KTSPL) to CTFE. Currently, no legally binding agreements have been established, and the potential sale is still subject to negotiations on key terms, including the price, and obtaining necessary government and regulatory approvals. In response to media inquiries, the Culture, Sports and Tourism Bureau stated that the Hong Kong government has received the application and will handle the matter according to the contract. KTSPL was awarded the contract for the design, construction, and operation of the Kai Tak Sports Park in 2018. The company is currently 75% owned by a wholly-owned subsidiary of NEW WORLD DEV and 25% owned by a wholly-owned subsidiary of NWS HOLDINGS (00659.HK). AAStocks Financial News |
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