Mandarin Oriental hotel group to go private in £3.1bn deal
International news
Group, has said it will take the luxury operator private in a deal worth $4.2bn (£3.1bn). Jardine Matheson, a Hong Kong-based investment firm, will buy the remaining 12% of the firm it does not already own, through its wholly-owned vehicle Jardine Strategic Ltd.
The firm said the buyout would allow it to “deliver superior, long-term returns” from its business portfolio in Asia while “better supporting Mandarin Oriental in achieving its growth objectives.”
Once the acquisition completes, Mandarin Oriental will be delisted from the London Stock Exchange, the Singapore Exchange and the Bermuda Stock Exchange. The scheme is expected to become effective by February 28, 2026.
In parallel, Mandarin Oriental has agreed to sell part of its Hong Kong headquarters for $925m (£689m) to Chinese online retailer Alibaba Group and its fintech-focused subsidiary Ant Group.
Mandarin Oriental Hotel Group operates 43 hotels, 12 residences and 26 homes in 27 countries and territories.
by Eamonn Crowe