Mandarin Oriental Advances Expansion with €148M Retail Sale

Mandarin Oriental International (GB:MDOB) has released an update.

Mandarin Oriental International Limited has announced the signature of an option to sell two retail units adjacent to its Paris hotel for €148 million to Blackstone Europe LLP, with the proceeds aimed at funding the Group’s development strategy. The completion of the sale is expected post-June 30, 2024, and is subject to conditions including a pre-emption right by the City of Paris. This move comes after the recent sale of the Paris hotel itself to Statuto Group for €205 million.

For further insights into GB:MDOB stock, check out TipRanks’ Stock Analysis page.