---
title: "Bloomberg: Blackstone and New World’s investment negotiations have stalled due to the Cheng family’s unwillingness to relinquish control"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/277713884.md"
description: "According to Bloomberg, negotiations between Blackstone and New World Development have stalled due to the Cheng family’s unwillingness to relinquish control. Blackstone proposed to invest approximately $2.5 billion into a special purpose vehicle to become the largest shareholder, while the Cheng family plans to invest between $1 billion and $1.5 billion. Negotiations have progressed slowly as the Cheng family seeks to reach a deal with other investors. Blackstone has not commented on the matter"
datetime: "2026-03-04T02:45:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/277713884.md)
  - [en](https://longbridge.com/en/news/277713884.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/277713884.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/277713884.md) | [繁體中文](https://longbridge.com/zh-HK/news/277713884.md)


# Bloomberg: Blackstone and New World’s investment negotiations have stalled due to the Cheng family’s unwillingness to relinquish control

According to a report by Bloomberg citing informed sources, negotiations between Blackstone and New World Development (00017) have encountered obstacles, as the Cheng family, the helm of the cash-strapped Hong Kong developer, is unwilling to relinquish control.

Informed sources stated that Blackstone has proposed to inject approximately $2.5 billion into a special purpose vehicle, thereby becoming the largest shareholder of New World Development, while the Cheng family would invest between $1 billion and $1.5 billion. However, negotiations have recently slowed down as the Cheng family is seeking to reach a deal with other investors and is reluctant to give up control.

Blackstone declined to comment. Chow Tai Fook and New World Bank have not yet responded to requests for comment. (bi)

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