Dec 31 (Reuters) - Hong Kong's CTF Services , part of the conglomerate owned by billionaire tycoon Henry Cheng and family, is in early talks with China's state-owned Yuexiu Group to sell a bundle of toll roads worth $2 billion, Bloomberg News reported on Tuesday.
The construction firm, formerly known as NWS Holdings, has also held talks with other buyers and could sell the package of roads in smaller chunks, the report said, citing unnamed sources.
CTF Services and Yuexiu did not immediately respond to Reuters requests for comment.
The potential sale is part of a strategic review of assets to raise cash and boost investor value, the Bloomberg report stated, and comes during an unfolding succession saga and mounting challenges for the Cheng family's businesses.
CTF's sister company, New World Development , clocked its first annual loss this year in two decades and has amassed more debt than its Hong Kong peers. Heir Adrian Cheng stepped down as the firm's CEO in late September, while his replacement exited the company in just two months.
Shares of New World ended this year more than 57% in the red, while the family empire's third listed entity, Chow Tai Fook Jewellery , has lost 42% in value. In contrast, CTF Services's stock has risen 31.7%.
(Reporting by Nikita Maria Jino in Bengaluru; Editing by Janane Venkatraman)
((Nikita.Jino@thomsonreuters.com;))
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。