REG - Mandarin Oriental Jardine Matheson Hdg - Disposal

Mandarin Oriental InternationalAnnouncement

12/06/2024 12:00

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RNS Number : 1770S  Mandarin Oriental International Ltd  12 June 2024

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 (mailto:matthew.bishop@mohg.com)

Chief Financial Officer, Hong
Kong
(+852) 2895 9288

 

Chris
Orlikowski
corlikowski@mohg.com (mailto: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 (http://www.mandarinoriental.com) '.

 

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