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new world development

August 27, 2015

Belk department stores sold for $3 billion; Schaeffler posts double-digit revenue increase; and Chinese billionaire Adrian Cheng to build 17 shopping centres

Belk department stores sold for $3 billion

American department store chain Belk, owned by the eponymous family for more than 125 years, has been acquired by private equity firm Sycamore Partners in a deal valued at $3 billion.

According to a company statement, Sycamore will pay $68 in cash for every share, in what will be the biggest ever deal for the New York-based firm.

March 26, 2015

Hong Kong family business New World Development has announced third-gen Adrian Cheng will become executive vice chairman next week, indicting he could be the anointed heir to run the property empire.

Hong Kong family business New World Development has announced third-gen Adrian Cheng will become executive vice chairman next week, indicting he could be the anointed heir to run the property empire.

Cheng, 34, sits on the board of directors with his sister, Sonia, 33, who is chief executive of subsidiary Rosewood Hotel Group. Their brother Brian, 31, sits on the board of another subsidiary, NWS Holdings.

The siblings’ father, Henry Cheng, is chairman of New World Development.

June 5, 2014

Some of the biggest brands in the global hotel trade are family businesses, founded by dynasties that have mastered the art of giving a warm welcome. Here’s a handful of some of the best-known chains from across the world.

Some of the biggest brands in the global hotel trade are family businesses, founded by dynasties that have mastered the art of giving a warm welcome. Here’s a handful of some of the best-known chains from across the world.

October 31, 2013

Asian family businesses are not only making a difference to the sectors they operate in, but are also influencing the evolution of the family business model in Asia. CampdenFB takes a look at some of the fastest growing and most exciting.

Asian family businesses are not only making a difference to the sectors they operate in, but are also influencing the evolution of the family business model in Asia. CampdenFB takes a look at some of the fastest growing and most exciting.

 

 

Bakrie & Brothers
• FAMILY: Bakrie
• SECTOR: Commodities, telecommunications and property
• COUNTRY: Indonesia

March 1, 2012

Robert Maersk Uggla is 33 while Henry Cheng is 65 years old, but both next-gens, from different parts of the world, have made headlines this week for taking up top roles in their family businesses.

Robert Maersk Uggla is 33 while Henry Cheng is 65 years old, but both next-gens, from different parts of the world, have made headlines this week for taking up top roles in their family businesses.

Danish industrial conglomerate Moller-Maersk said on 29 February that fourth-generation Uggla has been appointed head of the family business’s tugboat subsidiary, Svitzer. Until now, Uggla was chief executive of the group’s tanker operations.

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