City Developments to take Millennium & Copthorne private, values hotel group at $3.2 bil

SINGAPORE (Oct 9): City Developments announced on Monday it offering 552.5 pence to buy the remaining shares in Millennium & Copthorne Hotels it does not own.

CDL currently owns 65.2% of the UK-listed hotels group. The deal values M&C at £1.8 billion ($3.2 billion).

The acquisition would bring the operator of the Millennium, Grand Millennium, Copthorne and Kingsgate hotels back into the fold of Kwek Leng Beng's property empire, which is part of the Hong Leong Group.

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