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An announcement from City Developments ( (SG:C09) ) is now available.
CDL Investments New Zealand Limited (CDI) announced that CDL Hotels Holdings New Zealand Limited (CDLHH NZ) intends to make a takeover offer for the ordinary shares of Millennium & Copthorne Hotels New Zealand Limited (MCK), which owns a majority stake in CDI. However, the offer does not include CDI, and the company will remain a listed entity, with no immediate action required from CDI’s shareholders. This development suggests stability for CDI’s operations and its status as a listed company, while the focus of the takeover is on MCK’s shares.
More about City Developments
CDL Investments New Zealand Limited (CDI) operates in the real estate industry, focusing on the acquisition and development of residential sections across New Zealand. It has a two-decade track record of successful subdivision projects in locations like Auckland, Hamilton, and Christchurch, and has also ventured into commercial property projects, including industrial warehouses and neighborhood centers.
YTD Price Performance: -0.80%
Average Trading Volume: 100
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $3.35B
For detailed information about C09 stock, go to TipRanks’ Stock Analysis page.
