New World Development Co Ltd (0017.HK)
20 Oct 2017
* Smart Future and Healthcare Assets Management entered into subscription agreement
BRIEF-New World Department Store China says offer for privatisation by Ubs Ag Hong Kong Branch on behalf of New World Development lapsed
* Offeror announces that offer for proposed privatisation by ubs ag hong kong branch on behalf of new world development lapsed on aug 28
* Updates on privatisation by way of offer by UBS AG Hong Kong branch to acquire all shares of new world department store China
* Offer price represents a 50.4 pct premium to previous close
HONG KONG, June 7 New World Department Store China Ltd said its parent firm plans to take it private for HK$934.5 million ($120 million), so that it can better tackle a challenging operating environment and take risks in implementing strategy.