Announcement
The following announcement was issued today to a Regulatory
Information Service approved by the Financial Conduct Authority in
the United Kingdom.
MANDARIN ORIENTAL SIGNS OPTION TO SELL TWO
RETAIL UNITS ADJOINING MANDARIN ORIENTAL,
PARIS
12th June 2024 - Mandarin Oriental
International Limited, the publicly listed parent company of
Mandarin Oriental Hotel Group (the 'Group'), today announces that
it has, pursuant to a preliminary sale agreement, signed an option
to sell its interests in two retail units adjoining the Mandarin
Oriental, Paris (the 'Hotel') located at 251 rue Saint-Honoré,
Paris (the 'Retail Units') to Lavender Propco SNC, an entity
controlled by Blackstone Europe LLP for €148 million. The proceeds
will be applied towards the Group's general development strategy.
The Group purchased the building containing the Retail Units and
Hotel in 2013 and divided them into separate titles before selling
the Hotel to Statuto Group for €205 million on 29th April
2024.
The Group's acceptance of the offer
for its interests in the Retail Units is subject to the statutory
right of pre-emption by the City of Paris, among other conditions,
it is anticipated that final documentation will be signed and
completion of the sale of the Retail Units will take place on or
after 30th June 2024.
About Mandarin Oriental
Hotel Group
Mandarin Oriental Hotel Group is the
award-winning owner and operator of some of the world's most
luxurious hotels, resorts and residences. Having grown from
its Asian roots into a global brand, the Group now operates 40
hotels, 12 residences and 23 exclusive homes in 26
countries and territories, with each property reflecting the
Group's oriental heritage, local culture and unique sense of
place. Mandarin Oriental has a strong pipeline of hotels and
residences under development.
Mandarin Oriental International
Limited is incorporated in Bermuda and has a primary listing in the
standard segment of the London Stock Exchange, with secondary
listings in Bermuda and Singapore. Mandarin Oriental is a
member of the Jardine Matheson Group.
- end
-
For further information, please
contact:
Mandarin Oriental Hotel Group
International Limited
Matthew
Bishop
matthew.bishop@mohg.com
Chief Financial Officer, Hong
Kong
(+852) 2895 9288
Chris
Orlikowski
corlikowski@mohg.com
Director of Global Communications,
London
(+44) 79 17280210
This and other Group announcements
can be accessed through our website at 'www.mandarinoriental.com'.