The Cheng family reportedly hired consultants to negotiate the sale of the Rosewood London hotel
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The Cheng family is reportedly hiring consultants to prepare for the sale of the Rosewood Hotel in London, as the decline in Hong Kong real estate prices has led to an increase in New World's debt ratio. They are attempting to sell assets and seek partners for investment. New World previously proposed a $1.9 billion debt exchange offer and is expected to issue $1.362 billion in new bonds. The Rosewood Hotel business is managed by Cheng Chih-Wen and is part of Chow Tai Fook Enterprises, which owns 58 hotels worldwide
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