Hong Kong

REAL estate developer New World Development Co Ltd plans to make an offer to take its 69 per cent-owned China property unit private, in a deal that could be worth US$2.1 billion, Bloomberg reported on Monday, citing a person with knowledge of the matter.

Trading in shares of New World Development and New World China Land Ltd, which has market value of HK$54 billion (S$9.9 billion), was suspended on Monday pending a statement in relation to takeovers and mergers. The companies gave no further details.