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Report: HPEF, CVC halt auction for Hong Kong-based office space provider

HPEF Capital Partners Ltd and CVC Capital Partners Ltd. suspended the sale process for Hong Kong-headquartered The Executive Centre Ltd., Reuters reported, citing an unnamed source.

The move comes amid fears that ongoing protests in the city could weigh on the office space provider's valuation, according to the report. The private equity owners reportedly will resume the process once conditions stabilize in Hong Kong.

HPEF Capital, CVC and company management own respective stakes of 70%, 20% and 10% in The Executive Centre. It was reported in April that the company could have a valuation of more than $750 million in a sale.

Neither CVC nor HPEF commented on the matter, according to Reuters.