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New Deal


Announced

Chow Tai Fook Enterprises to acquire a 97% stake in NWS for $4.53bn.

Financials

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Transaction Value£3,560m
Consideration TypeCash
Capital Owned-
Capital Bid For97%
EV/Sales-
EV/EBITDA-
Share Price Premium22.2%
One Off Charge-

Tags

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Acquisition

Domestic

Majority

Public

Pending

Friendly

Single Bidder

Hong Kong

Diversified Financials

investment

Synopsis

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Chow Tai Fook Enterprises, a conglomerate with holdings in the jewellery, property development, hotel, department store, offered to acquire a 97% stake in NWS for $4.53bn. New World Development is set to bag as much as $2.78bn from the sale of a construction subsidiary to its major shareholder, in a buyout deal that would help it cut debt and pay a special dividend.

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