Industry Newsroom

NWS Holdings Sells Hong Kong’s Citybus and New World First Bus to Templewater Bravo-Led Consortium for USD410m

Infrastructure firm NWS Holdings, a unit of Hong Kong property developer New World Development, has agreed to sell Hong Kong-based bus franchises Citybus and New World First Bus for HKD3.2b (USD410.2m) to a consortium led by private equity fund Templewater Bravo in a cash deal. Following the transaction, Templewater Bravo will own more than 90% of Citybus and New World First Bus. Read more