The global hotel brand's controlling shareholder, Hong Kong-based Jardine Matheson, is in the process of acquiring the remaining minority share of Mandarin Oriental through its wholly owned subsidiary.
The 11.96% at $3.35-per-share deal gives Mandarin Oriental a new, total valuation of approximately $4.2 billion.
Mandarin Oriental also announced — concurrent to the deal to take it private — that is has agreed to sell the top 13 floors (levels 21 to 35), its rooftop signage and 50 parking spaces of building One Causeway Bay in Hong Kong to two entities, Alibaba Group and Ant Group. That part of the deal — named the OCB Sale — is valued at $925 million.
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