
New World completes sale of full stake in Kai Tak Sports Park to CTFE
The completion was done on 29 November.
New World Development announced that it had completed the disposal of all the equity interest held by the group in Kai Tak Sports Park Limited (KTSPL) to Chow Tai Fook Enterprises (CTFE) on 29 November.
On 28 November, the company announced that it had entered into a sale and purchase agreement with CTFE for $416.7m, along with a sale loan amounting to approximately $679.9m.
CTFE, together with its subsidiaries, now owns approximately 45.24% of the total issued share capital of the company.