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Market Chatter: New World Development, ADIA Mull HK$3 Billion Hyatt Regency Sale to UOL

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New World Development (HKG:0017) is reportedly looking to sell 50% stake in Hyatt Regency hotel to Singapore-based UOL Group (SGX:U14), Bloomberg reported Tuesday citing people with knowledge of the matter.

Abu Dhabi Investment Authority (ADIA), which owns the remaining 50% interest in the hotel, is also exploring a sale to the same buyer, according to the people.

The potential deal would value the Hong Kong hotel at HK$3 billion, the report revealed.

New World Development, Abu Dhabi Investment Authority, and UOL Group did not immediately respond to' request for a comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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