BUZZ-New World slips most in 7 weeks on report Blackstone drops tie-up deal

Blackstone Inc.

Blackstone Inc.

BX

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** Shares of New World Development 0017.HK slip 3.7% to HK$9, on track for the biggest one-day pct decline since March 23

** Blackstone BX.N has walked away from a proposed $4 billion tie-up with New World Development after the indebted property developer refused to cede control, Bloomberg News reported on Wednesday, citing people familiar with the matter

** Blackstone declined to comment

** "No agreement has been reached with any potential investor, including with respect to the amount, nature or form of any such potential investment into the company" - New World said in a statement on Thursday

** YTD, stock up 24.1%, benchmark Hang Seng Index .HSI up 3.6%


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