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Home / Capital / Brokers Calls

Millennium & Copthorne privatisation unlocks value for City Developments, say analysts

Broker's Calls

Millennium & Copthorne privatisation unlocks value for City Developments, say analysts

Michelle Zhu Published on Tue, Oct 10, 2017 / 3:06 PM GMT+8

A-

A+

SINGAPORE (Oct 10): Brokers are unanimously positive on City Developments' potential offer for Millennium & Copthorne Hotels, given that the acquisition will be value accretive to the group.

On Monday, the developer announced it is offering 552.5 pence each for the remaining shares in M&C it does not own, in a deal which values the hotel group at £1.8 billion ($3.2 billion).

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