CDL currently is the majority shareholder of M&C, owning 65.2% of the hotelier.
SINGAPORE (Dec 11): UOB Kay Hian is maintaining its “buy” call on City Developments (CDL) with a target price of $14.03.
This came on the back of the group announced that the Millennium & Copthorne (M&C) independent directors have reached an agreement on the increased privatisation offer of 620 pence per share to acquire the 34.8% of the hotelier that it does not already own.
