Tycoon Cheng Family’s CTF Services Is Said to Halt Sale of $2 Billion Toll Roads

The infrastructure arm of the billionaire Cheng family has halted a plan to sell a collection of roads in China worth about $2 billion, people familiar with the matter said, after months of talks on a possible disposal.

CTF Services Ltd., formerly known as NWS Holdings Ltd., was in negotiations with state-owned Yuexiu Group about a deal, Bloomberg News reported in December. But it has decided to halt the sale as the assets generate stable cash flows, the people said, asking not to be identified because the deliberations are private.