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The Executive Centre Halts Sale Process Due To Hong Kong Protests

The Executive Centre (TEC) has paused its sale process due to the massive Hong Kong protests that have continued in the city for a third month. Click To Tweet

The Hong Kong-based office provider’s owners, HPEF and CVC Capital Partners, have decided to halt final bids until the city stabilizes.

These increasingly violent protests began as an opposition to an extradition bill, which has now been withdrawn. Over the weekend, police fired tear gas and rubber bullets in the Central business district, which houses many TEC offices.

In April, TEC was reportedly seeking a valuation of over $750 million and is on course to produce EBITDA of $46 million for this year according to a source.

ABOUT Aayat Ali
Aayat Ali

Aayat is an editor for the Daily Digest based out of Kentucky. She has worked with local coworking spaces since August of 2017 and enjoys taking her firsthand knowledge to write about the fascinating, constantly evolving world of flexible workspaces. Feel free to reach out to her at [email protected] View all posts by Aayat Ali

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