New World Devt to acquire Biowin

HONG KONG (AFX-ASIA) - New World Development Co Ltd said it has agreed to acquire the entire interest in Biowin Investments Ltd at a consideration not exceeding 3.0 pct of New World Development's consolidated net asset value of 57.14 bln hkd.

	    In a statement, New World Development said Biowin is the beneficial holder of 75 pct of Eurasia Hotel Ltd, which operates Regent Hotel held under a sub-lease expiring on Dec 28, 2010.

	    New World Development said the acquisition is expected to enable it to consolidate its ownership of Regent Hotel.

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