Bain Capital is considering a possible investment in New World Development (HKG:0017), which is seeking ways to reduce its substantial debt, Bloomberg News reported Friday, citing people familiar with the matter.

The private equity firm has been exploring a transaction that might also involve fresh funding from New World's controlling shareholder, the Cheng family, according to the report.

Talks remain ongoing, and sources caution that Bain may ultimately choose not to move forward with any deal, the publication said.

Bain and New World did not immediately respond to requests for comment from MT Newswires.

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