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CDL says M&C Hotels buyout offer documents sent out; First close date set at Jan 23

M&A

CDL says M&C Hotels buyout offer documents sent out; First close date set at Jan 23

PC Lee Published on Thu, Dec 21, 2017 / 8:00 PM GMT+8

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SINGAPORE (Dec 21): City Developments (CDL) has sent out the offer documents for the buyout of Millennium & Copthorne (M&C) Hotels to the latter's shareholders.

The first close date for the transaction is Jan 23, 2018.

CDL is making a final cash offer of 620 pence ($11.20) each for the 34.8% stake in London-listed hotelier it does not already own.

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